Categories: Finance

What You Didn’t Know About Online Coupons

The world of online savings has moved beyond promotional codes and in-store discounts. Today it is possible to save in ways that no one ever would have dreamed of just a few years ago. Literally hundreds of deal sites exist offering more ways for people to save on the items they use everyday. From discount programs with large retailers to daily deal sites offering one product per day, there are more ways to save in today’s online world than ever.
Ways to save online
It seems like today there is a new way to save on products every day. Retailers are constantly coming up with new ways for people to save on products and bring in new business. Without looking far, you can easily find the following


discounts available for customers:
Daily discount sites: These sites usually offer a one or more products every day at a special price. Some sites offer new deals every 24 hours, while others offer deals for three or four days. Usually, retailers use these sites as a way to bring in new business or get rid of overstocked items.
Voucher finding sites: These sites keep track of the discounts and coupons that retailers offer to customers. These companies are beneficial to customers and retailers alike. Customers can benefit from lower prices, and retailers can benefit from increased business.

Group discounts: Group discounts work by offering a special deal, but only if a certain number of people agree to purchase the item. When these sites first got started, it was possible to miss a deal due to lack of participation, but today almost all deals go through because so many people use the websites.

Company coupons and voucher codes: These are the codes and discounts that retailers offer directly to customers through e-mail offers or on their websites. These deals are for chance shoppers or loyal customers who love the brand.
Company discount programs: These loyalty programs are somewhat new to the couponing market. Some retailers offer special discounts and offers to loyal shoppers of their brand. Usually, these deals are unadvertised and exclusively for loyal customers.

Deal finding sites: Some websites follow deals for certain products every day. These sites focus on one type of product, such as baby items or electronics. The sites then search the Internet for the best deals and publish them in a conveniently-located place for visitors. These sites often work through affiliate links and help visitors find products they want for less.


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Why companies offer discounts
Companies offer discounts and encourage the use of them to bring in customers and business during struggling times. People like to feel like they are receiving a bargain on their purchase, which makes them more likely to shop if there is a sale going on. In fact, JC Penny recently did away with their former tactics of frequent sales, choosing instead to slash prices by about 40 percent, but they did not gain additional customers. Their customer purchases slowed because no one wants to pay full price for an item, even if the full price is what would have been the sale price in the past.



Couponing in the recession
Part of the reason that the couponing industry has blossomed so much in recent years is due to the recession. People do not have as much money to spend as in the past, and many people are paying more attention to the purchases they buy. Many retailers are desperate to keep customers and bring in new customers, which is why you now see so many different forms of discounts and coupons all over the world.


Navigating the world of online savings
While online sales and discounts are great, it is important to avoid the danger of over buying due to buying pressure or the overabundance of promotional codes. Only shop when you need an item, and always stick to your budget. Even if a coupon offers a discount on a product that you love, if the discounted price is still out of your price range, do not make the purchase.

  • photo from shutterstock

This is a guest post by Liz Conaty.  Liz currently represents ozvouchercodes.com a great resource for saving money through the internet.

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