The Impact of Coupon Codes

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The Impact of Coupon Codes

Coupon codes are a huge deal in the marketing industry. A huge majority of companies use them strategically.  This has a lot to do with psychology and human nature. Getting a deal get’s people excited, even if in the long run it isn’t saving them a lot of money. For example, student discounts are usually around 10% off and sometimes even less like 5% off, but this drives consumers to these companies stores or websites. When business is getting particularly slow around certain times of the year, using coupon codes or deals like these can help drive profits and get the business going again. One of the main things it does is increase awareness, especially by word of mouth. From personal experience, the way that I hear about most deals like these is through friends and families who are excited about the fact that they got a great deal and are happy to share it with others. I’ve experienced this is so many different industries but as a college student, it is mostly with clothes and jewelry. Another example is that in my apartment complex, a nail salon just opened in the retail space below and for their grand opening they had 40% off any service you chose to get for the first two days and then 20% off in the two days following.  And it was wildly successful. The store was packed for the whole weekend and it definitely increased awareness for all women and some men in Athens. So, I believe using coupon codes is something that start-up companies should definitely consider and of course already established businesses as well.

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SPARKsouthSeptember 28, 2018
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