Deal or No Deal: Are Coupons Good for Business?

The type of discount — such as buy one, get one (BOGO) or a price cut — also depends on the business and the clientele. A retailer might want to offer a BOGO deal, but a pizza shop might do better with $2 of… See more

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FAQs about Deal or No Deal: Are Coupons Good for Business? Coupon?

Are coupons a good idea for your business?

In this way, coupons can help you reach both new and existing customers. Coupons offer businesses opportunities to reward and engage existing customers and drum up new leads. Offering strategic discounts can ultimately boost sales and revenue. The biggest risk with coupons is that they can deprive a business of necessary cash flow for survival. ...

Should you use a coupon to get a better deal?

Using a coupon can give you a better deal than other consumers, but Utpal Dholakia, a professor of marketing at Rice University, wrote in Psychology Today that regular coupon users often spend more for an item than those who don't use coupons. The thrill of getting a better deal may cause shoppers to lose sight of the actual cost. ...

Why do companies offer coupons?

Companies use coupons to tap into the psychological excitement that consumers feel when using a coupon. It has been proven that an item that costs $200 regularly is less appealing to a consumer than something that is $400 with a 50% discount because deals and sales excite people. ...

Are coupons a good way to save money?

Coupons can be a great way to cut back on costs without cutting down on quality. If you can use coupons strategically, you can score some amazing deals. If you aren’t taking advantage of coupons, you leave money on the table. ...

Do coupons make you buy more than you intended?

Companies can make you buy more than you intended when using a coupon. Coupons make you buy more items. Brands tap into the "buy in bulk" ideology that couponers often embrace. Consumers believe that buying more than they need at the moment will save them money in the long run. However, the truth is that they rarely break even. ...

Are coupons a good investment?

Coupons are an easy way to cut back on expenses without sacrificing quality. Although you will need to invest some time, it can be a good return on investment. Even if you’re not into extreme couponing and only use coupons to save on groceries, you can use the saved money for something you desire. ...