Couponing is useful in almost every scenario. It’s not just for saving money at the grocery store. It is useful in restaurants, clothing stores, and other places. I primarily use them in my favorite grocery stores since food prices are at an all-time high. Aside from the thrill of using them and hunting deals, have you ever thought about why coupons are made and who they benefit? Follow along for the answers.
Coupons are a win-win situation for the consumer and the manufacturer. The number one reason they benefit the consumer is that customers get significant savings and even cashback on some purchases. It also helps alleviate high food prices. On the other hand, it benefits the manufacturer because of marketing. Think about it! Coupons are used to hook and draw people in. When they are aligned with a specific store, they are used as a tool to pay for your loyalty. Once they have you hooked, you are more inclined to shop with them and increase their bottom line. This goes for household brands as well and any company trying to increase their consumer base. It’s all a numbers game. The more brand loyalty they have, the more likely you will stick by them and help them generate income.
Another marketing ploy is to create buzz around new products. If you think about the coupons you find, they fit into two categories. The first category includes popular everyday products. The second category is brand new products. These coupons entice you into trying something new. If the price is right, you buy, and if you like it, you come back. If a customer enjoys the product, it may turn into several future purchases, even at full price. I have tried so many new products this way including brand-named cereals, cookies, granola, juices, and dinner products.
Why coupons are made is an easy question to answer. They not only benefit the customer but increase revenue through brand loyalty and promotion. Can you think of anyone else who benefits from coupons? Share your thoughts below.