Groupon may be facing some rough times ahead, with the coupon-giant reportedly facing a growth stall and being advised by Forbes magazine to start searching for a new CEO quickly. This, however, hasn’t stopped people from using their coupons in staggering quantities. With some justification, one could claim that we are living in the age of the coupon. Numerous shoppers seek and redeem coupons with passion, because they believe, that such an activity allows them to save a lot of money. With wages failing to keep up with inflation and unemployment rates on the rise in many countries, this seems to make a lot of economic sense. Since a search for best bargains can be quite addictive as well, there is every reason to believe coupons will remain a success story for some time to come. However, the questions remains whether coupons are always good for you, or if they have a negative side as well.
When coupons are good for you
First of all, coupons help customers save their funds, while buying items or services, which is a perfectly simple business idea. The concept of coupons is by no means new, either, and has been used by clever salesmen and merchants for ages. As local establishments try to attract shoppers, they frequently print leaflets with coupons. With an aid of these, a customer is able to obtain a discount, when visiting a favourite service in their area.
The Internet, meanwhile, has taken this concept to a new level. You can have coupons delivered to your mailbox from multiple sites every single day, which has made finding and using coupons of personal interest exceedingly simple: Any online purchaser can look for a discount code for the specific item, therefore paying less than original price. A frequent bargain hunting leads to significant savings in a long run.
Moreover, coupons introduce new types of products, leading to an enjoyable experience, as well as broadening horizons of avid shoppers. They promote discovery of quality items by as yet unknown providers, enhancing satisfaction of buyers.
When coupons are bad for you
However, in certain circumstances, an extensive usage of coupons produces detrimental results. The underlying reason is mostly that bargains can turn into an end rather than just a means, thereby confusing what you really want. A few collectors may, for example, buy an inferior product, just because it’s advertised on coupons. This approach diminishes satisfaction of the customer.
Moreover, the savings achieved through the use of coupons can be illusory, as more expensive products of higher quality often tend to last longer. Besides, an alternative choice frequently costs less, even without any related promotions.
An addiction is a serious problem related to the coupon collecting, which arises occasionally. People can seek new discount codes for hours, looking for a new promotion. However, using this time to relax, or earn an income, would be more efficient. Buying newspapers, which tend to contain coupon sets, just to save a few cents afterwords, is a poor investment as well.
How to use coupons effectively
Following a few simple tips can help you get most of the collecting and redeeming coupons. First, gather any coupons, which cross your way. Keep those, which refer to any products you purchase frequently. Discard all others instantly to avoid temptation and unnecessary expenses. Moreover, whenever you intend to buy an expensive item, perform an online check for a discount code. This takes just a few minutes, but leads to long-term savings.
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Try to compare various choices, before selecting the preferred model or a supplier. This way, you will be able to find out, whether it makes sense to buy a discounted item, than a competing product at the full price.
If used wisely, coupons can be part of a highly effective cost-reducing budget strategy. By taking out a bad credit bank account, which support debt-reduction by eliminating overdraft facilities, for example, you can strengthen your resolve to bring expenses down and focus on what’s really important. The latter point is particularly important. Remember, after all, that coupons are good for you, when collected and applied sensibly. However, a moderation in this activity helps you avoid any potential pitfalls, while maximizing the savings. A clever approach to bargain hunting comprises an important element of a frugal lifestyle – which, in turn, can support happiness and long-term satisfaction. Now, let’s just hope Groupon gets back on the road to recovery soon.