Popular Store Coupons Offered Today By Top Retailers
Market economics is all about the demand and supply position. When the demand is more than the supply, you find people rushing to the shops to procure their items. This gives the retailer a free hand in deciding the price. At the same time, when you find supply to be higher than the demand, it is the reverse position. Now the retailers have to go behind the customers for the sale of their merchandise. They use various methods to attract the customers to their outlets. They reduce their prices to make a minimal profit. The issuance of store coupons to the customers as an incentive to purchase more is one more strategy that is common.
The coupon methodology:
In simple words, the coupon is a marketing gimmick. You can see practically every retailer, both online as well as the traditional offering store coupons to their existing as well as potential customers. It is, in fact, nothing but an incentive for the customer to buy from the shop. The coupon would entitle the customer to rebates, discounts, as well as rewards depending on the nature of merchandise.
Types of coupon offers:
Retailers use different types of promotions to lure in shoppers, here in this article we’ll explore offers available today in the market, understand what they are and why different. You will find a variety of coupon types available in the market, and notice that more and more retailers now offer online coupons as they are indemand rather than the offline ones. However, for the sake of clarity, and explain the difference, we’ll review both online as well as the physical coupons.
- Manufacturer coupons: The manufacturer of the products issues these coupons. They distribute the same through newspapers or pamphlets. The customer can avail the benefit at the retail outlets. The retail outlets then dispatch the coupons to the manufacturer who reimburses them.
- Store coupons: The retail stores themselves issue these coupons to entice customers to make the purchases from their stores alone. Some examples of such coupons are those issued by Gap.com offering rebates and discounts over a range of merchandise purchased at Gap.com.
- Digital coupons: You can see this new trend nowadays. The manufacturers, as well as retailers, issue such coupons directly via SMS to smartphone users. The customers can redeem the same at the respective stores and claim discounts etc. You can also call these coupons as ecoupons and so on.
- Catalina coupons: This is a unique style of advertising where you get the coupon on the reverse side of the sales receipt. You would be able to use these coupons at the time of the next purchase. This is a good way of retaining the clientele.
- Hangtags: You usually find such discount coupons in the form of hang-tags on the product itself. You get an immediate discount on the product when you make the purchase.
- Buy one get one offer: These are the most popular kinds of store coupons in use today. Practically every kind of retail store issues such coupons on behalf of the manufacturers. Usually, you find these coupons more in apparel shops such as Gap.com.
- Scratch cards: This is also a popular kind of a coupon wherein the retailer hands you a scratch card. You have to scratch it for availing the discounts. There is an element of luck in these styles of coupons.
- Online coupons: These are the most popular methods today. The retailer or the manufacturer issues a code. You have to enter the code to redeem the coupon at the time of checking out for payment. You have to pay a reduced price on the merchandise.
- Cash back offers: There are a number of online payment wallets in use today. These payment wallets give you cash back offers on purchases made and services availed through their medium. You would have to make the full payment. These payment wallets credit the “cashback” amount to your wallet enabling you to use it for further purchases through the same medium.
Advantages of using these coupons to the customer:
- The biggest advantage would be that you would be saving money on the transaction. You would be able to purchase the apparel and other items from shops such as Gap.com at reduced prices.
- You can use the cashback offers to accumulate the cash balance in your wallets enabling you to use the same in your future purchases. This is also a kind of saving in a way.
- Some shops introduce an online draw system while issuing their coupons. You will be able to participate in such sales promotional campaigns by the customer.
Advantages of the stores coupons to the retailers:
- Unloading of inventory: The retailers and manufacturers may have unmanageable inventory on their hands. These goods could become outdated in case you are not able to dispose of them quickly. Offering stores coupons is one way of unloading this inventory.