Why Do Coupons Exist?
Less than one percent of coupons are redeemed in stores these days, yet you still see them in the Sunday newspaper and at the front of every grocery store. Why do coupons exist if most people don't use them? Vice explains that it's not about the consumers at all, but it's actually more about the manufacturers and the retailers.
Manufacturers spend $1.1 billion dollars last year to print coupons even though digital coupons are by far more popular these days because of smart phones. Even so, companies will make deals with retailers to try and sell new products, and that's where coupons come into play!
If a manufacturer decides to print coupons that can only be redeemed at one chain of store with their new product, people will likely flock to that store if they want to try that new item.
And if a retailer refuses to put a new item on the shelf? Well, a manufacturer can come out with a coupon and can be used anywhere, and if people go to that store and find that it isn't available, they can complain and pressure the store to start stocking the product.
So while we, as consumers, may benefit from the occasional coupon, it's really not about us at all!