It is now more difficult to find paper coupons that were once staples in households for savings on groceries and other household purchases.
This is partly due to the pandemic. Manufacturers want to avoid shortages if consumers respond to offers, Kelly Tyko, senior breaking news reporter at Axios, told CBS News.
According to economists from Harvard University, Georgetown University, and Heinrich Heine University Dusseldorf, Americans are also redeeming fewer coupons. In 2006, there were 2.6 billion coupons. This is down to half the amount — 1.3 billion — by 2019. They believe this is due to a shift of consumer behavior. Fewer shoppers are now willing to spend their time cutting coupons to save small amounts.
The disappearance of coupons comes at a time when Americans are dealing with the highest inflation rate in 40 years, driving up the prices for many grocery items. Tyko stated that there are still ways to save such as signing up for loyalty programmes at stores and buying bulk.
She stated that “The truth is that you can’t get the same savings as you did years ago with paper coupons — that’s because there are far less coupons than there used to be.”
She suggested that the supply-chain problems of the pandemic could have contributed to the drop in coupon sales. Tyko stated, “Think of the empty shelves that we experienced during the pandemic — if you have a great coupon, it can drive demand even further.” “Manufacturers don’t want to worry.”
Tyko stated that another option to save money is to buy store brands. These products can often be less expensive than brand-name ones. These products can often be distinguished from brand-name products but cost less.
