Borse, dividendi mondiali oltre i «rumori di fondo»: primo trimestre da record
di Maximilian Cellino
by Enrico Netti
During the year 2025, Savi, a marketing company specialising in the management of services related to the use of discount vouchers in the large-scale retail and modern trade market, distributed 326 million discount vouchers, an increase of 7% over the previous year. The face value of the vouchers distributed reached EUR 505 million (+9%) with an average value of EUR 1.55 (+2%). While paper vouchers are the most widespread, the share of digital vouchers, distributed to customers with the apps of the various large-scale distribution brands, grew last year, reaching a share close to 20%, up 1.5 percentage points compared to the previous year. A trend that confirms the evolution of savings habits and the growing integration between promotions and in-store digital tools. The data emerges from the research 'The couponing market in Italia in 2025' carried out by Savi, which manages the coupons of over 38 thousand retailers including large-scale retail chains, drugstores, specialised shops and pharmacies. In short, almost the entire market excluding discounters.
"In the last 5 years, the couponing market has grown by 67%, exceeding 500 million in distributed value. This trend, which we observe particularly in the digital format, whose use has doubled, is not only an indicator of the evolution of Italians' saving habits, but above all represents a paradigm shift in the way companies build relationships with their customers," explains Andrea Zermian, Sales and Marketing Director of Savi Italia. "Today, digital coupons are much more than a promotional tool: they are an evolved engagement tool that allows brands to communicate directly and personally with consumers, integrate promotion and data, and accurately measure the effectiveness of campaigns. Already 71% of our partner companies consider it a central lever in their strategies. In particular, mobile coupons are an effective way to measure the impact of retail media both online and in-store, enabling precise attribution between exposure and conversion at the checkout".
The most popular are food coupons, which are worth 51.5% of the market. Beverages lead the growth, accounting for 29.2% of food coupons, up 4.7%, while packaged products slow down, although they remain one of the main categories, dropping to 22.6% (-3.9%). There was slight growth for milk and dairy products (16.8%, +0.3%), followed by confectionery, which expanded to 16.6% (+4.1%). There was also a smaller increase for condiments (5.9%, +0.4%), while coupons used for bakery products (5.4%, -3.1%) and frozen food (3.5%, -2.5%) declined. Personal care and hygiene remained stable, accounting for 26.6% of coupons (+0.1%), while the contraction in detergents continued, falling to 12.1% (-0.1%).The most interesting dynamic concerns petfood, which continued its growth and reached almost 10% of the total (9.8%), with the most marked increase (+1.3%). A clear sign of how the increasingly widespread presence of pets in Italian families is also structurally influencing promotional strategies.
The key to this convenience and marketing tool is the conversion into product purchases. According to Savi's data, performance is improving, with the more traditional distribution methods, those with 'instant on pack' coupons, applied directly on the packaging, achieving an average redemption of 79%, up 4%, confirming it as the most effective tool in terms of purchase activation. There was also a positive trend for digital coupons issued through websites, email, newsletters, social media and loyalty cards, which rose to an average redemption of 24% (+2%), a sign of the growing ability of digital channels to generate concrete conversions at the checkout. On the other hand, there was a decline for coupons distributed by promoters at points of sale, which stood at 15% (-3%).