It’s harder than ever to find paper coupons, before a staple to save on groceries and other shopping.
The reason is partly due to the pandemic, as manufacturers want to avoid shortages in the event that consumers respond to an offer, Axios senior journalist Kelly Tyko told CBS News.
At the same time, Americans are exchanging fewer coupons, from 2.6 billion coupons in 2006 to half, 1.3 billion, in 2019, according to a study by economists at Harvard University, Georgetown University and the University Heinrich Heine of Düsseldorf. This is likely due to a change in consumer behavior, with fewer shoppers opting to spend time cutting back on coupons for small savings, they noted.
But the disappearance of the coupon comes when Americans are struggling with the highest inflation in four decades, pushing up the prices of many items in the grocery store. However, there are other ways to save, such as signing up for in-store loyalty programs or buying in bulk, Tyko said.
“The truth is, you can’t get the same savings you could get years ago with paper coupons, and that’s because there are far fewer coupons than there were,” he noted.
Pandemic supply chain problems may have contributed to the coupon decline, he added. “Think of the empty shelves we experienced during the pandemic; if there’s a fantastic coupon, that can further drive demand,” Tyko said. “Manufacturers don’t want to worry about that.”
Another option for finding savings: buy branded stores, which can be cheaper than branded products, Tyko said. Products are often indistinguishable from branded products, but they can cost much less.
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