How to Stop Losing Money From Coupons

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How to Stop Losing Money From Coupons

How to Stop Losing Money From Coupons

Looking at the ceiling shelves and the cashier tired? TLC’s Coupon Extreme disciple may have visited you, a cable TV program designed to show viewers how to buy a variety of goods for a penny. To protect themselves from losses, some of the country’s major food and drug retailers are changing their policies. Bob Phibbs, a retail consultant, is the author of the Retail Doctor Development Business Guide and believes that independence should also review their policies.

 

“You don’t want to encourage these people to shop with you,” Jobs said. “They are not people who want to do business.” To build the largest wall possible between you and the likely high loss coupons, he recommends making some simple policy changes.

There are no other promotions to buy a free one (BOGO). A large number of free goods limited coupon users are the result of a combination of BOGO promotions and BOGO coupons. Phibbs says that you can eliminate this risk by disallowing such joint promotion.

 

Cut the imitators. Limiting the number of coupons (maybe two or four) per purchase or each customer using the same coupon can eliminate the purchase of all free or worthwhile inventory products. to tell. If your point of sale system can track it, you might also consider limiting the number of coupons that customers can use within a specific time period, such as no more than four of one month. However, Phibbs acknowledges that tracking can be difficult.

 

Related: The dark side of discount

 

Be cautious in accepting coupons from others. Phibbs recommends that if you accept coupons from other retailers, be sure to apply your own limits to them to avoid paying competitors’ mistakes. Also, please note the date and other restrictions.

 

Clearly announced policies. Whether you want to change the policy or just make it public for the first time, Phibbs says it should be posted near the cash register so customers can realize that your store doesn’t welcome extreme coupon practices. .

 

“Coupons bullies” are prohibited. Some hard coupon users may be eager to get what they want. This may waste your staff and may require your intervention. Sometimes you might catch someone queuing up to buy 50 of them for 50 euros.

 

Sister said. Consider what impact this would have on your staff. They will ruin them for the rest of the day. Develop your strategy and backup your employees when they implement their policies, you should have no problems.

 

Image courtesy of Shutterstock.com/Fotoline

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