Are Discount Codes Worth It?

What Are The Discount Codes?

There is no better feeling when you buy a gadget or a gorgeous coat, which was seemingly out of your budget, all with the help of a discount code or voucher promo code. With discount codes, coupons, or vouchers, you can easily buy items that you may not purchase otherwise. They are a great way to save money and buy premium products at an affordable price.

Technically speaking, a discount code refers to a combination of letters and numbers that describe and offer a particular discount for anyone holding that code, voucher, or coupon. The discount code gives the customer some money off the original retail price, outside the seasonal sale cycle.

Discount codes or promotional codes are used by big and small retailers alike to attract customers, build their brand, sell off old stock during the offseason, and create a loyal consumer base. With promo codes and discount vouchers, consumers don’t have to wait at the end of the season to buy things at a lower price. They can walk into a store anytime or browse online collections before making a purchase using their discount codes or coupons.

Discount codes work as an incentive to attract shoppers to the store or website and encourage them to buy products from the store or online platform. With discount codes and promotional offers, customers have the opportunity to try products they usually wouldn’t buy. With discount codes, you can encourage shoppers to repeatedly buy from your store and recommend your brand to friends and family.

Here are some popular ways a brand offers discounts to consumers...

Types Of Discount Codes

There are a variety of discount codes a person can avail of. There are the traditional discount coupons and gift vouchers which you physically present at the shop. However, with the increasing prevalence of online shopping, retailers have shifted to online discount codes and promo codes. Customers often receive these codes in promotional emails, via social media influencers, or while purchasing at an online website.

Customers use online discount codes before checkout. Online websites will prompt the customer to use a coupon code or promotional offer before heading to the payment gateway. With online discount codes, you save on your purchase and your shipping and delivery costs. Online shopping has made it much easier for consumers to find and use discount codes and promotional offers.

Percentage Discount

This is the most common way to give a discount. Here, the shop or website offers a flat percentage discount on the final order of the customer. This is generally applied to the purchase amount and does not include the shipping cost. For example, a brand is launching a new marketing campaign for their product line by offering a flat 25% off their products sold online.

Free Shipping

Most e-commerce websites give free shipping on orders above a particular price point. Websites like Amazon offer free shipping for their premium customers. Shipping costs also depend on whether the demand is domestic or if it is an international order. For example, an online website will offer free shipping for orders above $30.

Fixed Amount Discount

This discount code offers the customer a set amount of the total purchase value. The terms and conditions of such offers include a minimum threshold, where the customer has to buy products worth a particular amount to make the discount code applicable. For example, a brand can offer a $100 discount on a purchase order of a minimum of $450.

Scarcity Creates Urgency

This is another way a brand advertises and offers discounts to customers. They will create artificial scarcity in products and place a discount on the item to sell it. This makes the consumer feel like they are buying a unique product at a stellar bargain—for example, a brand selling their products with 30% off till stocks last.

Variations of these discounts appear from time to time to incentivize customers to buy more from shopping sites and physical shops. Brands use discount offers as an effective marketing strategy to generate buzz around their business and their products. Limited time offers, and promo codes add a layer of excitement and thrill to the shopping experience. There is a sense of immediacy conveyed with the discount codes; virtually no human being can deny the thrill of a good bargain.

As customers, there are a few crucial points to keep in mind when using discount codes.

Things To Keep In Mind With Discount Codes

Check the Expiration Date

Remember the expiry date of the discount code/coupon. Most promo codes, discount coupons, and vouchers are valid for a limited time beyond which they lose their value. You will not be able to use the discount code once the expiry date has passed.

Know Where to Use Discount Codes

Read the terms and conditions offered on the discount code. We tend to overlook the details of the discount offered, which can lead to misunderstandings. Discount codes often apply to specific products or brands. Be sure to read the terms and conditions of the promo code before making your purchase.

Know Where to Find the Best Deals

The best way to get discount codes and promotional coupons are by signing up with an e-commerce website or hunting for coupon pages in magazines. Brands often email special promo codes to long-time customers and subscribers. The internet is full of places and websites that tell you about the latest discounts and promo offers.

Use Your Student ID

Using your student id is another way to get reliable deals while shopping or buying subscription services. Many places and services offer a student discount or promotional codes for students.

Discount codes and coupons are generally offered as promotional material to customers by brands who want to create a broader consumer base. With discount codes, you get your cake and eat it with zero guilt.