Vericast Readies Single-Use Digital Coupons Across Retailers

The future of grocery promotions is a widely discussed topic nowadays as more shoppers are becoming price sensitive as they look to offset rising grocery prices.

In a 2021 Deals & Coupons Report from marketing solutions company Vericast, 60% of shoppers are looking for more coupons to offset higher grocery, retail and dining prices, and 40% of consumers feel better toward brands that offer coupons. But coupon clipping may no longer require scissors, as Vericast announced March 16 its Universal Coupon solution—an omnichannel delivery of single-use digital coupons across retailers.

Vericast said its Universal Coupon solution leverages a new digital format, offering more freedom of choice across the board, while giving retailers a more secure and traceable format. The company said it will deliver Universal Digital Coupons on behalf of clients through a digital marketing portfolio.

Michelle Engle

“Vericast has been intimately involved in the development and promotion of the new universal coupon standard for many years in reaction to limitations with the current coupon format,” Michelle Engle, chief product officer of digital marketing and technology Solutions for Vericast, said in an email to WGB. “Based on research with customers, we heard from CPG clients and grocers that there was a market need for an improved digital coupon offering. As consumers have integrated their phones into all aspects of their daily life, we think they will embrace the ease and convenience of the new format.”

When asked how the company will leverage intelligence technology to bring coupons into the modern era, Engle said, “Vericast offers targeted media and promotions utilizing the intelligence in our Consumer Graph predictive intelligence technology that improves campaign performance of promotional spend on coupons. Closed loop intelligence with Vericast’s redemption data allows for faster and more intelligent optimization of spend.”

As for how it works, the company said the digital coupon is scanned and validated by participating retailers through a centralized system at the point-of-sale featuring a new serialized “8112” barcode.

Vericast said it will begin test campaigns in the second quarter this year in alignment with retailer acceptance. The first Universal Coupon will be delivered digitally and is intended to be viable in any medium, including paper.

“Vericast is a pioneer in coupon marketing and distribution, and a trusted source among thousands of brands and retailers over several decades,” said Engle. “As a leading coupon distributor and processor, we have the scale and reach to expand the omnichannel marketing power of digital offers with the new Universal Coupon standard, while reducing fraud, improving accuracy and creating a positive consumer experience.”

In order to provide real-time data analytics through artificial intelligence and to supply the backend infrastructure for its Universal Coupon solution, Vericast is working with FOBI AI. Vericast said it plans to offer shoppers downloadable Universal Coupons on its Save.com website.

The company also announced a The Universal Coupon standard, developed by The Coupon Bureau, an independent, nonprofit organization working with the Association of Coupon Professionals.

“We’ve worked with the industry to create this new standard to address some of the biggest coupon challenges faced by manufacturers and retailers alike. The solution seeks to mitigate fraud, improve accuracy as well as delight the shopper,” said Brandi Johnson, CEO of The Coupon Bureau, in a statement. “As a result, serialized AI 8112 coupons are revolutionizing the way we can apply coupons to the overall customer experience. Wide adoption is coming, and Vericast’s innovation and support in developing the standard will help lay the groundwork for making coupons a true omnichannel marketing tool.”