Back in 2009, when TLC launched the show Extreme Couponing, the response was amazing. It was a time when the economy was performing poorly and people were looking for all possible ways to save money. Needless to say, the “couponing craze” caught on quick. At that time, advertising by use of coupon clippers was a very good idea.
For the most part, viewers and fans of the show learned the ways of coupon clipping in order to reduce their grocery bills significantly. On the opposite end of the spectrum were the “extreme couponers”, who would stock up products simply because of a coupon deal. In all reality, will a family eat through 60 boxes of mac-n-cheese before it expires? It’s unlikely, but the makers of such products could not complain.
What Goes Up, Must Come Down
Initially, to respond to the coupon demand, companies issued a high volume of coupons, but over the years, those numbers have dwindled. There are even laws in place now, to regulate the coupon market. Such policies were put in to place to limit purchase quantities. This became necessary because some “extremers” would basically wipe shelves clean of various products, which has a negative impact on the store as a whole.
The demand for coupons has decreased quite a bit because of their decrease in value. Consumers’ interest in them has been on a downward trend for some time now and online advertising is one of the reasons for that. The quantity and value of online coupons has increased a lot in recent years, switching the gears of consumer interest.
Often times, digital coupons cannot be combined with manufacturer paper coupons. Based on the popularity of online shopping, it is not surprising that folks use the online coupon version if they must choose between the two.
The Scoop on Coups
Companies are now implementing coupon strategies and online discounts that benefit both the consumer and the company. Consider the following examples of how this is being done:
- Rite Aid – They allow up to 4 identical coupons so long as there is enough stock to satisfy the other customers. Consumers here are able to get discounts and at the same time the company does not run out of stock.
- Target – This super store has revised their policies so that customers can no longer combine buy one get one free – “BOGO” – coupons so as to make both items free. By doing so, Target protects itself from losses, but consumers still get good bargains and deals.
- Walgreens – They have revised their policies, allowing management the right to limit the number of items purchased. This controls the improper use of coupons and ensures that other consumers also benefit from the coupons.
Currently, most consumers are into online coupons because they are worth more and they cut out the middleman. This solidifies the promising future of online advertising. Not only does it cut down on wasteful paper products, but consumers are fanatics about being able to have their mobile devices scanned for promotional barcodes. Everybody wins.