What Are The Disadvantages Of Using Coupons?
The biggest con of using coupons is that they cost businesses money and may lead to lower profit for that sale. Another drawback is when existing customers wait for coupons, cannibalizing existing revenue before the coupon program.
How do coupons affect consumers?
According to the economic effects of price discounts, a price discount provides a monetary gain, an incentive to encourage consumers to purchase the product. Consumers perceive a higher level of savings for a product when a higher price discount is provided, and this relationship was confirmed by many previous studies.
Effects of price discount on consumers' perceptions of savings, quality ...
Coupons help marketers grow market share, increase sales volume, sell faster, cultivate loyal customers, and drown out competitor advertising. Coupons can encourage consumers to make a repeat purchase. Offer a discount on their next purchase, and you will be at the top of their shopping list.
How Do Coupons Help Marketers Sell More Product? - Gallimore Industries
What are the advantages of using digital coupons?
Digital coupons are more convenient from a customer standpoint. They're cost-effective and efficient since they're delivered digitally. Businesses demonstrate they value their customers be rewarding them with a coupon. Auditing processes are external, so reporting well-documented.
What are digital coupons? - BigCommerce