For anyone who has grocery shopped, read magazines or newspapers, you have probably encountered coupon codes, promo codes and cash back incentives or cash rebates to reduce some of the financial burden on any items that you purchase or plan to purchase. Using these coupon codes, promo codes and cash back incentives ensures that you are a prudent shopper both online and offline.
What are coupon codes or promo codes?
Promos and coupons are a combination of letters and numbers that you can use when online shopping and when entered at any online shopping website during the checkout process, allow you to obtain a discount on the retail price, shipping cost or both.
By taking advantage of these promotional offers and various discounts, you get to keep more money in your pocket. In short, promo codes and coupon codes give you the same benefits as your typical paper coupons without needing to cut out the coupons and carry it around with you.
Where can one get promo codes or coupon codes?
The best place to get coupon and promo codes are several websites that feature thousands of online retailers and the various coupons and promo codes offered by each at a moment in time. This cuts out much of the leg work of trying to determine which merchants have promos or coupons on your own. These websites are paid a fee by the merchants listed for offering this convenient service to online shoppers when they direct traffic to the merchants’ site.
Although the merchant may lose about 10% profit from the promo codes and discount codes offered, the influx of new customers more than makes up for this loss in profit that could also lead to repeat purchases if the customers are pleased with the products. Coupon and promo codes help merchants grab a larger share of the market.
The sites that feature these codes are paid for every customer that they send to the merchant’s website during online shopping. These sites have a tracking system that records the customers sent for each code to ensure that they get paid.
A promo or discount code is presented during the checkout process by the customer in the boxes designated for coupon codes or promo codes. The code is then shown as a negative amount or deduction against your purchase amount or shipping cost.
What are cash back incentives?
In addition to promos and coupons, some of these websites featuring these various merchants offer an additional incentive to online shoppers who register on these sites. They offer cash back incentives. When an online shopper during their normal online shopping is directed to a merchant’s website and makes a purchase, a portion of the purchase price is returned to the customer as cash back and recorded in the shopper’s account at the website.
So in addition to coupons and promos, cash back incentives are offered which further reduce the amount spent on an item of a normal online purchase. Some of these websites offer cash back incentives of up to 25%. During special events or during holiday seasons, a lot of the merchants may increase and sometimes double the cash back incentives offered.
Membership is free at these websites and all you need to give them is your email address for communications relating to your cash back account as well as contact information on where to send the check or the cash transfer. A lot of them use Paypal which makes it easy to transfer the cash back payment. Payments are usually made on a quarterly basis to ensure that return periods offered by the merchants expire before the cash back is issued to the customer.
These websites work the best for smart shoppers when they save you money on products that you were going to buy anyway. It is always important to remember that using promos, coupons and cash back incentives is very smart as long as you do not let the codes and incentives offered dictate what you buy.