I’ve only really used coupons once or twice as a tool for selling online. And, I did find them somewhat useful. Mike Allen at Revenews gives more reasons to incorporate the use of coupons when it comes to making money online:
1) Coupons stimulate certain consumers to buy products they would not otherwise buy at that price.
2) Coupons allow sellers to charge multiple prices for the same basket of goods or services.
3) Coupons can encourage speedier purchase decisions (and even impulse buying).
4) Coupons can encourage brand loyal consumers to try a competing brand.
5) Coupons can increase average order size (AOS).
So yeah, I do believe that coupons can be good sales and promotional tools.
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My understanding of the biggest advantage to a seller is that many people might buy because of the coupon but only a fraction actually take advantage and send them in.
I also read an article that sellers are moving away from coupons because of customer backlash over some retailers hoops people have to leap through to claim their benefits (sorry can’t remember where sorry!)
Hi, Greg. Yeah – I guess there are pros and cons when it comes to using coupons. While some are moving away from it, I know that it is still being used by many sellers.