The first question you probably have on your mind when hearing about plastic coupons is whether or not they work. Despite popular belief, they don’t give you discounts when you buy the product. Instead, they are merely a trend.
The digitalization of physical retail has accelerated the evolution of mobile couponing. By 2013, sales on mobile platforms such as geolocation apps, loyalty cards, and gift cards will double. As consumers move to these technologies, analysts predict a decline in the number of stores offering paper coupons. Mobile coupons have an advantage over paper ones in two ways: they can be sent to consumers’ mobile devices before they are printed and redeemed immediately. This can result in higher redemption rates.
Attracting People Through a Lot of Offers
The manufacturers’ focus has changed from offering discounts on products to attracting people to buy them. While they used to provide unlimited discounts, they began to limit the number of coupons people could use on a trip. This resulted from increasing competition among grocers and big-box stores from e-commerce platforms like Amazon. To counteract this, grocers began to expand their store brand offerings and ask manufacturers to lower the price of name-brand items.
Save You up to 25% Off
If you’re looking for a great deal on the plastic coupon, you’ve come to the right place. These coupons can save you up to 25% off the regular price of most items. In addition, many of these items are on sale and can be purchased for as little as $1. There used to be a time when freebie coupons were more common, but they are now much less frequent.
Harbor Freight is another company that recently ceased offering coupons. In early 2021, the company’s coupon numbers dwindled, and shorter-lived coupons and in-store specials replaced them. They also changed the way that they distribute coupons. This means that the amount of coupons is decreasing, and the number of shoppers using them has reduced.
Introduce Something New
Coupons can assist in the introduction of new product lines as well as encourage customers to try a more profitable brand or service.
Encourage Them to Keep Coming Back
Coupons can also encourage existing customers to return to your store. The most significant disadvantage of using coupons is that they cost businesses money and may result in a lower profit for that sale.
Boost traffic and Can Increased Sales
A coupon can boost foot traffic and pickup/delivery orders for your store, resulting in increased sales and revenue.
Help Build Customer Loyalty and Brand Awareness
Coupons and free one-time-use offers, such as new mover offers, can help your business build customer loyalty, raise brand awareness, and provide a quick infusion of cash.
Discounts Help Increase Revenue
Products with discounts ranging from 10% to 20% increase revenue by 7% and unit sales by 28%. Discounts greater than 20% have the potential to reduce revenue per transaction, particularly discounts greater than 50%, even if unit sales increase when compared to unit sales when items are discounted between 0-10%.
Makes Tons of Money
Yes, that is correct. It is possible to have what couponers call “moneymakers” with the right combination of coupons and store sales; sometimes it is as simple as using a coupon with a value greater than the cost of the item. I had a manufacturer’s coupon (MQ) for $1 off any one brand of Reach dental floss not long ago.