By Molly Elrington, Retail & Travel Client Partner, Partnership Development Hub, at Awin In Q1 2025, 70% of Awins retail sub-sectors saw a year-on-year decline in their discount partner sales share. The APMAs latest report points to the same shift, with voucher partner contribution falling across the industry. But this doesnt mean all discount partners are in decline. In fact, some of those offering more advanced targeting capabilities, such as geo-targeting or audience segmentation, have continued to grow. The broader trend reflects a deliberate move away from blanket discounting toward more selective, strategic use of these partners. Brands are rethinking their reliance on one-size-fits-all, margin-eroding offers and instead building more balanced, full-funnel programmes that support long-term growth. The focus is now on building more balanced, full-funnel programmes that support long-term growth. And its the affiliate channels evolution thats making this possible. By making better use of the channels growing diversity, particularly the rise in upper-funnel partners, brands are better positioned to reach new audiences, drive loyalty and improve margin. Growth in these partnerships, combined with a broader mix at the point of conversion, is prompting teams to refine their affiliate strategies. The aim is to shape the full customer journey through compelling messaging and strategic offers, not just wait for the last click.

Discounts arent dead - theyre part of a broader strategy 

There is no doubt that discount codes play a huge role in driving sales, they remain a powerful lever for driving urgency and conversions. In fact, despite a year-on-year dip in performance, discount partners were still the top sales driver across Awins UK retail network from January-to-May, 2025. Discounts still drive urgency and conversions “ when theyre used with purpose. In the Awin-Win podcast, we heard how brands like Boohoo and Sky are moving beyond blanket offers in favour of smarter, more strategic promotions. That means well-timed, targeted deals and discounts that reach the right audience without eroding long-term brand value. The shift now is toward more strategic use: reserving discounts for specific objectives, and pairing them with partners that build long-term loyalty. In this context, affiliate marketing becomes more than a last-minute conversion tool. It becomes a margin-friendly way to drive sustained growth, reach new audiences, and deepen customer engagement. This is where the opportunity lies. By using a broader mix of affiliate partners and tools, brands can deliver value across the entire journey - not just at the point of sale.