Saving money, especially on necessities such as groceries as well as luxuries such as expensive clothes and shoes, is naturally large on the minds of many Canadians today. The retail industry is therefore enforcing many strategies to keep customers satisfied and thus returning.
The term “extreme couponing” has become extremely popular, earning itself a weekly TV series and countless Internet followers who are obsessed with maximizing their savings in stores by hoarding coupons, mostly found in their newspapers and mailboxes.
Today, consumers not only look at their preferred supermarket coupons for the deals, but also check out local flyers of other retailers for their sales. By doing so, they bring these competitors coupons to their stores and get the same item for that lower price. This is called “price matching”, a concept which is relatively new in the market today.
Moreover, in Canada, if people are embarrassed to use these coupons, there is also the option of using their smartphone apps, such as Checkout 51 (available for Apple’s iPhone and Android devices) to save money. All they need to do is send in a photo of their supermarket receipts and receive cash credits, paid out through personal cheques.
Also, one way to make sure the shopper is paying the correct price for their items is the Scanning Code of Practice, a voluntary standard used by most major retailers in Canada. If the price is marked wrong, the item is free to a maximum of $10.
According to me, all these ways of allowing the customer feel they have in a way achieved something by saving on the products they are buying are good strategies for the retail industry to maintain their sales.
Friend, David. “Coupon-clipping Bargain Hunters Go to Extreme Lengths to save a Buck.” Www.vancouversun.com. The Vancouver Sun, 27 Sept. 2013. Web. 28 Sept. 2013.
www.vancouversun.com/business/your-money/Coupon+clipping+bargain+hunters+extreme+lengths+save/8968402/story.html
