How do Coupons and Vouchers Influence Consumer Spending?

Do you know sixty-nine percent of brand-loyal consumers, according to a recent survey by shopper marketing company Valassis, would consider changing labels in-store in response to mobile coupons and vouchers. An impressive majority of participants stated a Frugalpapa coupons and vouchers would encourage them to try a brand they normally wouldn’t buy.

Researchers found that shoppers still strongly consider coupons and vouchers when making purchases, even with the rise of low-priced businesses like Aldi, Trader Joe’s, and others. This prompts investigations into the factors that influence consumers’ final decision to make a purchase at a given price point.

Let’s study the logic behind sales before revealing what it can teach retailers and producers.

Discounts Create Happiness

A study by supports the idea that saving money makes consumers happier in a wide and general way. Consumers’ hormone levels rise whenever you can provide them with a discount that is greater than the product’s value to them. When customers think back on their great experience, they may link that memory to your brand.

Discounts Create a Sense of Urgency

Sales encourage buyers to make a swift decision. This is because you have to absorbed the concept of scarcity, so you know that price reduction isn’t constantly available. According to Psychology Today, “anticipatory regret” is another major urgency factor. The right use of words in the marketing can help create a sense of urgency and push you over the edge to make a buy.

Clip n’ Save Tips

It’s important to remember that you want to have a say in how much you end up paying for goods.  If you recall, J.C. Penney’s sales dropped by 20% in the first quarter after they made the decision several years ago to abandon discounts in favor of EDLP.

Instilling Trust

Discounts can help to build trust with customers as long as firms don’t intentionally raise their prices and then provide excessively low sales prices (such as selling an item for instead $20 of $550).

Shoppers almost always take reductions at face value, thinking them to be genuine and a good deal. Offering reasonable discounts fosters confidence and trust with customers and increases the likelihood of repeat business.

It’s beneficial for you to purchase coupons and vouchers to survive in digital era, and some would argue that they are more important now than ever before.

Technology increased the competition and have given you more power than ever before. Yet, being human still makes them sensitive to many of the same types of psychological triggers. Businesses should only modify their coupon distribution methods and improve their digital customer service in order to provide customers with simple access to online coupon savings just like Frugalpapa.