Everyone loves to get a bargain. So it is no surprise that the internet often appears to be completely obsessed with coupons and bonuses.
Being online has made it easier than ever before to shop around for these deals. Companies routinely offer generous promotions in bid to tempt people to spend their cash with them.
Extreme couponing has become so popular that there are even reality TV shows dedicated to the practice. Some people swear that using lowes coupons and other bonuses has enabled them to save thousands of dollars.
However, what is rarely stated is how much time has been spent in order to save this cash. It might well be the case that hunting for couponing is essentially a job paying a very low wage.
While a range of brand-new apps have been launched to automate the couponing and bonus-hunting process somewhat, people can still spend a lot of hours a week trying to knock a decent amount of savings off their spending.
So why is the internet so obsessed with bonuses – and is this a good or a bad thing?
The other side of bonuses and coupons
Generally speaking, if a deal looks like it could be too good to be true, then it probably is. A lot of freebies that can be found through the internet certainly fall into this category.
In a lot of cases, people have to buy something to get money off another product or service. This is fine as long as the initial purchase is something that was actually wanted or needed.
Unfortunately, in a lot of cases, people end up spending cash on something they are going to waste in order to save money on something else. The sums simply do not add up in this case.
People planning to save money through coupons should also develop an awareness of the true value of whatever it is they are buying. Retailers in particular are famous for putting the same items on sale constantly. If this is the case, how can its value possibly be the original price?
Coupons and bonuses can also encourage extreme behaviour such as hoarding. In a lot of cases, people have to buy in bulk in order to make serious savings through coupons. This can lead to their houses becoming cluttered up with products that it will take years for them to use.
And if someone gets something for free through the use of a coupon or a bonus that they end up never using, it was not a bargain.
How companies use bonuses and coupons to attract customers
One of the key reasons bonuses and coupons are available in the first place is to attract new customers to use a company’s products and services.
The casino industry is a great example of how bonus offers can be used for customer acquisition at scale in one of the most cut throat industries there are. There is so much competition for customers in the casino industry that the bonuses and promotions that are offered by operators are growing all the time. Now, players sometimes do not even have to deposit any of their own cash in order to be given bonus money to play with.
The idea of such a promotion is that a customer will develop some form of brand loyalty to an online casino brand and continue to gamble with them rather than with a rival operator. As a result, giving away a small amount of bonus money is seen as an investment in a customer. The online casino in this example is gambling that they will get more cash back in the long run.
Is it the end of the road for bonuses and coupons?
The impact of the coronavirus crisis might mean companies have to reassess their use of bonuses and coupons. It may no longer be seen as prudent to give so much cash away.
This could be bad news for people who have come to rely on coupons and bonuses to reduce the amount of money they spend on a weekly or monthly basis.
Of course, businesses that do survive the financial impact of COVID-19 are going to need to attract customers more than ever, so some form of sales technique will still be needed.
It might even be the case that bonuses, and coupons become an even more popular way for firms to catch the eye of new people, though a lot of individuals will be tightening their belts.
What is for sure is that the internet will likely still continue to be obsessed with coupons.
