While it is a well-known factor that stores everywhere use discounts and coupons to attract customers, I am sure you’ve never thought about the effect of coupons on your mind. Most of the regular consumers enjoy receiving a discount or using a coupon because it makes you feel good.
As it turns out, the idea of a great deal (aka paying less for a product that’s in demand) taps right into our pleasure center and stimulates the production of the neurotransmitter dopamine. As a result, we get a rush out of the experience, which can be the final nudge towards a specific brand.
Coupons Influence our Choices
Have you ever wondered why you choose this brand of clothes over the others? Is it because you think they are more comfortable or better in quality, or is it because you received a significant discount on your purchase?
However, the power of coupons can be observed easier with more expensive products. For instance, if you want to buy a new mattress (which is a hefty investment for most), even a 5% discount can be attractive!
Furthermore, sites like nolahmattresscoupons.com help buyers find all sorts of impressive offers in this niche. As a result, the producer who knows how to use coupons to their advantage will end up with more customers and increased profits.
Big Brands Understand the Power of Coupons
The first-ever coupon was distributed by Coca-Cola, in 1887, when consumers received a voucher that offered them the right to one free glass of Coke at any dispensary.
Since then, the idea of discounts, sales, special offers, and online coupons has been tantalizingly used to make us spend money on things we may or may not need. This happens because discounts play on concepts to which we respond strongly such as scarcity and irrationality.
All great deals have an expiration date, which is shorter when the product is in demand. So, by setting a time limit, retailers create a feeling of urgency and scarcity that triggers our fight or flight response. I am sure you’ve heard about those Black Friday incidents, where people fight over products they don’t really need. That’s how powerful the idea of a great deal is!
Furthermore, the discounted prices are specially designed to trick our brain into perceiving them as being smaller than they actually are. For instance, an item that costs $1.99 will be associated with $1 rather than $2. The same goes for bigger prices, where $999.99 looks a lot more appealing than $1,000.
Are Coupons a Bad Thing?
While the idea taps more into our lizard brain (our irrational part), coupons and discounts are not something bad. True, their main purpose is to make you buy stuff, but with a bit of restraint and self-control, you can get some pretty good deals and make significant savings.
So, as long as you remember to consider all the pros and cons of a product before making the purchase, you can use the power of coupons to your advantage!