Coupons are popular for buying from online stores or physical retail shops since shoppers have become price conscious due to the economic downfall. Moreover, coupons are not only beneficial to consumers but also for business owners. With all the prices of goods and services drastically increasing, coupons are in demand.
Here are the reasons why coupons are beneficial for both customers and business owners:
For Consumers
1. Buy More Items
Wise consumers can save a good amount of money when using coupons to buy their necessities. Coupons offered to products you regularly buy could mean you’re discounted by purchasing goods in bulk within the validity period of the coupon. It’s recommended particularly on the goods that have long shelf-life and being used daily such as soaps, shampoos, tissues and the like. When you buy in bulk, you save money and time going to stores again and again.
Moreover, some coupons give a wholesale price — which is lower, to customers who buy in bulk. So when you buy bulk products, you save a lot as compared to buying them piece per piece. Besides, you can use the saved money from your discount or coupon purchases to buy another item or product.
2. Avail dream products
Sometimes, you cannot afford a product you long to have unless its price is lowered down. Using coupons gives you the opportunity to avail products that seem to be too high to be reached. Taking advantage of your voucher will significantly help you acquire items you really want at a discounted price. Nonetheless, buying the item from an e-commerce store with a coupon doesn’t necessarily mean that it’s of low quality or defective already. It only means that you get the same quality but on a lower price.
Also, you can avail coupons for e-commerce stores available online, so you can buy your dream product wherever you are. Sometimes, coupons for a specific product can be used to purchase from any online store. As a result, you’ll be acquiring your dream product while having the chance to choose from online stores covered in the coupon.
3. Save money
Considering the original amount of items you bought using coupons, you’ll find that you’ve saved a lot. A mere 10% off from every item you buy is already a good saving, especially on expensive items. Also, discounts accumulated from purchases, whether a mere 5% off or lower, are much higher even when it seems nonessential at first. Therefore, no matter how small the discount your coupon gives, if it gets accumulated, then you get to save and spend little.
4. Suggest when to buy
Coupons are offered occasionally. That’s why consumers would grab the opportunity to shop during coupons being at stake. This helps consumers to plan for their shopping or buying groceries activities that lead to the perfect timing to avail coupons which entitles discounts, freebies and more.
Or they save a lot from spending while they wait for the right time to use coupons that have a specific date of its usage. For instance, if you have a discount coupon to buy a dress eligible during the winter months, then you are more likely to wait for the winter to avail of such discount.
For Business Owners
5. Retains old and attract new consumers
By offering coupons, you can keep your old customers while attracting new ones. Almost everyone is always after which stores offer them great discounts or stores that can help them save. Nowadays, market competition is really high. It’s quite hard to keep your customers forever when your competitors offer the same quality products with a much lower price or play with perks that customers can’t refuse.
If you give coupons, customers will be attracted to visit your store more often and purchase more items. But if your store doesn’t have any coupon available, consumers will likely shift or go to similar stores that offer coupons.
6. Helps off-load older products
Products which might have only a few months before its expiry date should be disposed of as early as possible to prevent future losses when these products can no longer be safely consumed or used. Coupons can save you from ending up destroying your products after its expiry date. Aging products in shelves sold to a much lower price or with freebies will attract budget-stricken customers. Without compromising consumers’ safety, such products should be partnered with coupons to hasten their sales.
Since consumers love to avail and use coupons, you can use it not only to dispose expiring products but also to introduce or advertise the product itself. Therefore, you can have a dual purpose by using coupons to address this area.
7. Reduce advertising expenses
Another benefit of a coupon is that it serves as a form of making your products or business known. Your costs for advertising on other platforms can be reduced since coupons will play an advertising role as well. In your coupons, you can include your business name, address and other vital information customers need to know. Through this, your business will be recognized with discounts or freebies that will surely attract more customers and sales.
Moreover, when you have coupons scattered around, more people will see and encounter it, thereby directing them to your store. So instead of putting up all those tarpaulin around your metro, use its budget to finance for a coupon to reach for more potential customers.
8. Help identify potential customers
Right in the coupon, customers will print their names, address, contact numbers and the like that will help you identify what type of customers and which areas in your business location has the most sales of a particular product. This will also provide you database on your consumers which could be a great help in identifying the kind of products suited in your business location. Moreover, it will also serve as one of the bases on future expansion of business where there are a significant number of potential customers.
Conclusion:
Indeed, coupons have significantly influenced business owners and buyers. However, there are still many things to consider when offering coupons. For buyers, they should be wary of the date which is covered by it and be keen to inspect the product’s quality or label before purchase. To business owners, it should be noted that consumers’ safety and satisfaction is guaranteed. Products offered with coupons should still meet customers’ expectation while ensuring that you also would benefit from it.
