Home Coupon Deals Making the most out of the billions of dollars of coupons – Why consumers use them?

Making the most out of the billions of dollars of coupons – Why consumers use them?

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Deducing the main reason behind using coupons is a vital part of your financial portfolio but have you ever wondered why millionaires use coupons? Coupons work in a similar way as an added check which your employer gives you, but the only difference is that the payoff is done in smaller amounts. Companies usually devote a huge amount of dollars in a year to attract the consumers towards their products, services and businesses. A portion of this money is then disbursed among shoppers in the form of money-saving coupons.

Statistics and figures on couponing – What does data reveal?

You’ll be surprised to know that a very small percentage of shoppers usually redeem coupons. In 2011, American CPG marketers distributed coupons amounting to $480 billion for daily items like beverages, food, household items, clothing and tobacco. The average coupon was of a face value of $1.55. That which was alarming to see is that only $4.7 billion coupons were redeemed and the rest of the amount was left unused.

The shoppers who used CPG coupons saved an average amount of $30 in a week, depending on their level of involvement with coupons. As per labor statistics, the average household in America earns revenues of $42,600 in a year and the average yearly raise is just 3% or $1248.

Debunking the stigma attached to coupons

The main question is why most people don’t use coupons. One of the primary reasons of not using coupons is that they find it to be embarrassing enough and they feel that they will make them look cheap and people may think that they’re poor. But ultimately, why should you care about what the stranger thinks about you? This is more of a silly thought when it comes to using coupons.

Based on data and statistics, families with an income of more than $100,000 or more and shoppers who have college educations are more likely to use coupons than those who live below the average income of a family. There are also many millionaires who use coupons.

What makes millionaires use coupons?

There are indeed many millionaires who choose to live the frugal life. It is rather alarming to see that many millionaires choose to resole their shoes, repurpose their furniture and mend old furniture instead of buying new. Why would millionaires bother about grabbing a dollar off through coupons

An expert explains that millionaires usually take a look at their bigger picture. Instead of thinking of the money that they save in one shopping trip, they think of the total investment that they can make by using coupons throughout their lifetime. They pursue savings in order to reinvest them and this is also the same reason behind millionaires doing meal planning, managing shopping lists and strictly following couponing.

Therefore, if you’re not a millionaire, you need to learn a lot from them. Think of the long-term savings that you can build through effective couponing and hence use coupons while shopping.

 

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