The Psychology of Buying Cheap: How Effective Are Discount Coupons?

If you ask any good sales agent, they can tell you that psychology and sales often go together. Stores have been using the psychology of lowered prices for decades in order to coax their clients into buying products that are labeled $9.99 just to avoid a two-digit price. Although that trick doesn’t always work, there are other methods, such as coming up with discount coupons, that actually do the trick.

 

A peel back label that offers a discount coupon is either a physical card that resembles a gift card and allows you to buy something cheaper than it normally is, or it’s a coupon code that you can get online, and enter when you’re checking out of an online store.

 

Discount coupons offer a price reduction, either based on concrete money, on providing various offers such as “2 for the price of 1” or – most commonly – on reducing the price by a certain percentage value (such as selling it 15% off).

 

Now, getting 15% off of an item that’s worth $30 will not be a huge price reduction. In this particular case, you’ll get a discount of $4.50, which might be good, but it’s not ideal. However, you’ll be surprised how many people actually prefer that item to the regularly priced one.

 

Many buyers just prefer to look for discounts occasionally, but there are also those shoppers who will tear the internet apart just to get a small, 10% off their favorite candy or clothing items. That should already tell you a little more about the immense power that selling items on a discount can have.

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