Sep 27, 2008 3:10 pm US/Eastern
In Tough Times, Consumers Returning To Coupons
NEW YORK (CBS) ―
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After consumers seemed to ignore cutting coupons on everything from food to clothes over the last 15 years, new research shows cash-strapped consumers are now looking to cash in on coupons again.
AP
After consumers seemed to ignore cutting coupons on everything from food to clothes over the last 15 years, new research shows cash-strapped consumers are now looking to cash in on coupons again, reports CBS station WCBS-TV in New York.
Turns out there are tons of secret savings to be had, you just need to know where to look.
"Fifty-six percent of consumers state they plan on starting or using coupons more to offset the rising prices," says NPD Retail Analyst Marshall Cohen.
As homes have foreclosed along Main Street, and Wall Street is up for sale, consumers have grown more cautious, vowing to shop only when big savings are a sure thing.
Bonnie Carlson of the Promotional Market Association tracks customer coupon usage, and says nearly 90 percent of people use some form of coupon. And for an even bigger savings, they'll combine a coupon with a store's sale, then stock up on those necessities.
"Consumers are feeling this is a really smart way to save," says Marshall. "You can save up to $1,000 a year."
More strategies to keep down bills on everything from groceries, to electronics, to clothing include:
Check store and brand Web sites for discounts not seen advertised in the store
Keep receipts for a month, and if the item goes on sale, ask for the discount.
Don't be brand loyal – go for generic or another brand that's on sale.
Retail experts stress the Internet is the number one place to go bargain hunting. Not only can you comparison shop, but you will find sales you won't see in the store.
There are specific Web sites devoted to offering e-coupons and e-bates on thousands of name brand items.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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