Discount coupons and vouchers are almost everywhere! They are found in magazine clippings, they are distributed in supermarkets, and they can be printed out from an e-commerce buying site. What makes them such a hit, and why they have been in-demand since the day they were launched? Does the establishment, or the manufacturer of the product, able to benefit from it? Or is it just the consumers who find this offer beneficial to their pockets. Actually, discount coupons and vouchers are win-win solutions for both. And here are the reasons why:
It Captures Customers:
There are about 38,000 various items found in an average supermarket. With that huge inventory, it is becomes a challenge to sell them all in a relatively short amount of time. The establishment has to find a way to attract customers, and with couponing, their items begin to sell in a fast pace. Not only customers are attracted to the discount, they are also introduced to the brands they never encountered before.
It Establishes Loyalty:
Customer service, convenient shopping and excellent line-up of products are not enough to make customers loyal to an establishment. What could be probably missing is the issuance of coupons, which customers keep coming back to. Through this, the store is able to establish goodwill to their clients, and customers express their loyalty to the shop in return. This is because the clients feel they are given importance if they are given treats and discounts to the shop they frequent.
It Generates Repeat Orders:
There are promos that require shoppers to come back for further discount. This scheme definitely excites customers, and they make an effort to return to the shop to avail it. Needless to say, promos and coupons are great ways to generate repeat business. The establishment, such as Kohl's, benefits from this scheme because customers do not just come back to claim the discount from Kohl's coupons but also to buy more products for more promos, thus, generating more sales in the process.
It Successfully Introduces New Product:
If a new product is to be introduced to the market, promos, discounts, coupons and vouchers are definitely the winning ways. Nowadays, people won't try out a new product unless the price tag indicates "introductory price" or "buy one, get one." In the competitive world of consumer product marketing, the best way to get the attention of buyers is to put the item on promo or in vouchers. A price that is low, or almost free, is a surefire way to bring the item to the homes of the discerning consumers.
It Determines What Product to Push Through:
Take note however, that if the product is not at all that good, consumers won't buy the second time around even if the item is on sale. For the marketing and sales department, this is a very wise yet helpful move. They are able to determine which among their consumer products has the potential, and which won't generate sales even if it is on promo, coupon or voucher.