In a world where we count every dollar, saving money has never been more appealing. Just imagine a cart full of groceries, clothing, and even your dream vacation, while you keep your hard-earned money safe in your wallet. With the art of couponing, yes, it’s not a pipe dream. Let’s learn how, but first let’s understand what is couponing.
What is Couponing?
Couponing is a practice where you collect coupons from newspapers, magazines, or online. Then use or apply them whether online or in stores. And finally getting discounts to reduce the cost of your purchases.
Collect (redeem) => Use => Save
The History of Couponing
Maybe you’re wondering about the first one that created the first coupon. Well, let’s take a trip back to the late 1800s. In 1887, when”Asa Candler”, the owner of Coca-Cola created the first coupon with the goal of getting people to try his new product. It was a handwritten coupon for a free glass of Coca-Cola. His strategy worked like a charm. Coca-Cola became one of the most popular drinks in the world, all thanks to that simple piece of paper! In the early 1900s, other manufacturers started printing coupons in newspapers, magazines also on their product packaging. When the internet appeared and changed the way people coupon. Coupons became available online, so people can print them at home. Today, couponing has become more popular than ever. billions of coupons are distributed each year, and shoppers save billions of dollars by using them. According to a study by NCH Marketing Services, in 2023, 90% of consumers in the United States use coupons.
Why is Couponing Important?
Couponing is very important for you whether you have a business or for yourself. If you have a business it will help you attract new customers. when people see that you offer coupons, they are more likely to give your business a try. you will Increase your sales by encouraging customers to buy more than they normally would. Build customer loyalty, it means when customers feel they are getting a good deal, they are more likely to continue shopping at your business. And also it will help you clear your inventory that is not selling well. which means when you offer a discount on these items, you will encourage customers to buy them and make room for new inventory. And if you use it for yourself you will save hundreds of dollars each year on your everyday purchases. Also, you may get other benefits like free shipping, receive free items with your order, try new products or services, and more.
Types of Coupons
Paper coupons: It is a traditional type of coupon. You can find it in newspapers, magazines, and store flyers. Clip it and present it to the cashier.
Digital coupons: This type is the most used today. It’s easy to find and use. You can find it on websites, mobile apps, and in-store loyalty programs.
Promo Codes: It’s known also as coupon codes or discount codes. They are like coupons but they are more exclusive and offer significant discounts. You can find them on coupon websites like Guideth.
Printable coupons: These are physical coupons, you can them in newspapers or magazines. You can find them on some websites.
Manufacturer coupons: are discounts provided by product makers and you can find them at any store that sells the product. They are for a specific dollar amount off the purchase of a product.
Store coupons: They are issued by a retailer and you can only use them at that retailer. They are often for a % off.
Loyalty program coupons: These types of coupons are earned by joining the store’s loyalty program.
Cashback coupons: This type offers you a percentage of the purchase price back in cash. they exist on websites and in-store flyers.
The Benefits of Couponing
Couponing has many advantages, these include:
Try new products.
Get free stuff.
Reduce your budget.
Be more mindful of your spending.
Reduce food waste.
Support local businesses.
Teach your children about money.
Can stores lose money on couponing?
Yes and No, if stores offer too many coupons, then it is possible for them to lose money. if the coupons are too generous, or if the store is not careful about enforcing its coupon policies. For example, if a store allows its customers to stack coupons on top of each other this can lead to very large discounts. This can reduce the profits or even result in a loss on the sale. Otherwise, couponing has many benefits for stores as we mentioned above in” Why is Couponing Important?“.
What is Extreme Couponing?
Extreme couponing is a shopping technique for maximizing savings by using coupons. It’s not just about using a coupon here and there; it requires spending hours clipping coupons from newspapers and magazines or online. Extreme couponers may also go to many stores to stack discounts and find hidden deals, and promotions. It is often motivated by a desire to save as much money as possible, on groceries and other household items. It can also be a hobby for some people while it is a source of pride for others. Read more about Extreme Couponing.