The Power of the Coupon

Savings to Consumers, Profits to you

on 2011-07-26 Tony Pitale wrote

In this Post Recession period, where caution remains an important component of our daily life, one common thread has emerged – we love to save money.

Be it a penny or a dollar, the thought of getting something off the listed retail price is a psychological boost at a time when our collective psyches all need a lift.

Nothing implies a discount more than ‘coupons’.  In the past year, major sites such as Living Social (livingsocial.com), Groupon(groupon.com) and Outrageous Offers (oo.com) have enrolled millions of consumers by offering discounts off everyday purchases in the form of coupons.

Today’s Vision users have the power of the coupon at their command.  In an area formerly considered taboo in the industry, the in-store coupon has highlighted products, generated buzz for new flavors and served to stimulate a buying public who might actually overspend just because a coupon is in their hand.  Some retailers have been able to pair with other businesses (or product distributors) to share the cost of the coupons with the promise of cross-marketing or increased product awareness as a result.

Whether it is a limited vintage product or a mainstream segment of your inventory,  coupons can be used to kick your marketing efforts up a notch while providing both growth and income; as a result generating increased profit to your bottom line.