The first widely used coupon dates back to 1887 when the Coca-Cola Company began giving people a coupon for a free bottle of Coke. Since then, coupons as an effective marketing tool have gained huge popularity in all shopping categories. During the Great Depression of the 1930s, Coupons became an important part of food shopping and that trend didn't change until the beginning of the Internet age.
Today, people’s passion for coupons is still increasing. In fact, when it comes to retail shopping, the availability of coupons can often be the difference between making or breaking a deal.
According to data from a US coupon providing site - CouponBirds, almost 90% of consumers used coupons in 2020, and consumers saved about $3.6 billion on consumer packaged goods thanks to coupons. People are eager to buy more because of coupons. A report from Credit Donkey shows that 38 percent of people buy more than they intended because they had a coupon. Among consumers who use coupons regularly, 83 percent said coupons influenced their buying behavior. 67 percent of consumers made unplanned purchases simply because of coupons or discounts.
The majority (91 percent) of shoppers say they search for digital coupons on at least some occasions before making an online purchase. They go to a variety of places to look for them. Most consumers find out about discounts through coupon sites (68 percent), and the younger generation is more likely to find coupons on social media and online communities.
Although coupons are so popular in the United States, is it safe for shoppers? Almost all online stores will give shoppers some coupon code as a sign of their "goodwill", so you decide to buy something from them. It's a great way to attract new customers and spread the word among people, especially on social media.
This is nothing new. Stores have always offered discounts or coupons, but now that kind of thing has moved to online stores. Some people are totally addicted to this kind of shopping and save a lot of money in this way. But, with the increasing awareness of personal privacy, people start to question the security of using digital coupons.
Coupon codes, discount codes, or promo codes are always free. That means giving the appropriate customer a discount to put a smile on their face. But not every store offers real coupons and some of them will provide scam coupons to hurt your benefit or even use coupons to steal your information. That is why you should always look for stores that are well-known and have a good reputation. And you should only use coupon codes from websites you have faith in. Besides, you need to be careful and make sure you do some research before committing to a purchase.
However, many people are still willing to sell their information to get free discounts. According to Capterra's 2022 Coupon Preference Survey, the majority (85%) of online consumers are willing to share personal data in exchange for a discount. Most consumers said they would be willing to give up their email address (85 percent), gender (70 percent), and name (60 percent) in exchange for a discount. In addition, to provide specific data, consumers are willing to provide other information - 85 percent of consumers said they were willing to provide reviews to get coupons.
Consumers have a strong incentive to provide information in exchange for discounts, which is also useful for companies to analyze user data. By leveraging these valuable customer insights, businesses can increase brand awareness, enhance their reputation, and personalize future marketing campaigns.
Unfortunately, sharing personal data to get 20% off a pair of jeans, or even more expensive items like headphones or laptops, opens the door to consumer data fraud - even if those consumers don't seem to know it.
"While it's not a good idea to share personal data like age, occupation, location, previous spending, and hobbies, many people don't think it makes them vulnerable," said Baruch Labunski, chief executive of Rank Secure, a Toronto-based Internet marketing company. "They think either the information is already there, it's not that important and they're eager to save money."
This trend has become more common in tough economic times, as gas prices are high, food on the shelves is scarce and people are looking for all kinds of ways to save money.
"People, especially young people, are used to giving up personal information," he said. They have become accustomed to sharing everything on social media, often taking part in "tests" on platforms designed to reveal their most personal information, resulting in passwords for everything from social media to bank accounts."
Shoppers should value their personal information instead of exchanging it for coupons easily and try to get coupons without losing their personal data. Here are some useful tips to help you avoid the risk.
Get coupons from a trusted coupon website
Big coupon sites like Honey, retailmenot, Slickdeals, CouponBirds and others post coupons to thousands of retailers, where you can get a discount code for online savings without having to share any personal data. In addition to getting timely information about discounts, you can also get cashback. These coupon sites allow you to double your savings by getting cash back or gift cards when you shop online without sharing any personal information.
Try a coupon extension
Download coupon extensions to your browser such as PayPal (News - Alert) Honey, RetailMeNot, Coupert, etc. These gadgets will automatically apply coupons for your online orders without any personal data.
Unsubscribe from information-gathering sites
If you feel like you're sharing too much personal data and being bombarded with newsletters and text messages from retailers, unsubscribe and delete your information. Or you can create a marketing-only email address to sign up for email discounts and receive subscriptions.
Using coupons to save money for your online shopping can be addictive. However, it is not recommended to exchange your personal information for coupons at any time, because your personal information is invaluable.
