We all love saving money. Coupons help by allowing you to use a free slip of paper that you cut out of a newspaper as though it were actual money. Of course that means you have to buy that specific brand, but that's a price worth paying. Do you know how coupons work? Take this quiz to learn more about coupons and how they work.
Coupons offer savings, and motivate consumers to purchase a particular product.
Usually you will bring a coupon to a store, and use the coupon for its cash value toward the purchase of a particular item. Some coupons, however, are used for a mail-in rebate.
Most stores collect their coupons weekly, and then send them to headquarters for processing.
The big chain stores usually collect millions of dollars worth of coupons per week.
Coupons redemptions must be factored into the store's total sales, to make sure that the final total is accurate. Every coupon is treated as having cash value.
Somewhere in America, right now, a team of people is sorting and cataloging millions of coupons by hand.
Used coupons are usually returned to the product manufacturer, which means they must be sorted by manufacturer before they are tallied.
A Universal Product Code (UPC) is a 12 digit number that allows an electronic scanner to determine the price of an item, or the value of a coupon.
Many clearing houses use conveyer belts to scan coupons. The coupons, with UPC code face up, are placed on the belt, and the scanner totals up the value.
It usually take about a month for the manufacturer to get back its redeemed coupons.
Usually a manufacturer will reimburse a store around $.08 per coupon.
If you can find a coupon for an item that is already on sale you will compound your savings. You might even get the item for free.
Redeemed coupons are sent back to the product manufacturer.
Many coupons have expiration dates. Experts advise keeping coupons in your wallet or purse, so that you remember to use them before they expire.
There are so many coupons being processed per week that clearinghouses often must outsource their work to other clearinghouses, such as those in Mexico.