It’s finally time to announce our winner selected randomly by Random.org. Plus, you can get the answer to The Coupon Quiz and find out a bit more information to help you save!
- – The Winner – -
I’ll be contacting you via e-mail to request additional information, so I can get your prize to you! Watch for my e-mail and get the answers to The Coupon Quiz below!
- – The Answers – -
1. The very first coupon was distributed for ___.
Coca-Cola! While Grape Nuts was the very first true cents-off ($0.01 off to be exact) coupon distributed in 1909, Coca-Cola actually distributed coupons in 1887 for absolutely FREE soda. This was the first coupon ever released for the purpose of advertising and it worked. 8 years later, Coca-Cola was available in every state in the United States.
2. The average coupon user saves ____ on their grocery bill.
11%. Yeah, that’s it – $5.20-$9.60 a family!?! While most of us “coupon pros” brag about saving 60% or more, most coupon users only save 11%. That’s because coupons were designed to get you to spend money and most couponers do just that. However, matching coupons to sale items for products you typically buy or products that are incredibly cheap will save you much more.
3. The very first online coupon distributer was ___.
My Coupons. Recently relaunched, My Coupons is the oldest online supplier of coupons from printables to coupon codes in many categories.
September. 2009 The Coupon celebrated it’s 100th anniversary in 2009. 100 years from 1909 when many companies started using coupons for the purpose of advertising, following in Post’s footsteps.
5. Coupons expire, because ___.
All of the above. It’s true that less coupons are redeemed when coupons don’t expire, because customers don’t feel rushed to redeem the coupon, but on top of that the cost of releasing a coupon is more than you’d think and manufacturers must recoup the cost. Even internet printable coupons cost the manufacturer a pretty penny to release.
On top of that the percent of new products that actually make it onto store shelves is low! Manufacturers often release coupons, and high-value coupons at that, for free products to get them off the shelf and proof their worth of a spot! Stores can only hold so many products, so shelf space is coveted!
6. When it comes to layout, stores do the following things to encourage impulse buying:
All of the above. I spoke yesterday about store layouts and tactics stores use to get you to spend your cash, so peak back to see, so you can avoid falling for their traps!
7. The average prison sentence for coupon fraud is ___.
3-5 Years. Coupon fraud cost manufacturers and stores 500 million dollars a year, it’s taken seriously. The longest sentence was 17 years with a $5 million fine. While fines and sentences for fraud depend on upon the situation, many find themselves with a fine as high as $200,000. So, what’s the motive here? Don’t do it!
8. Of the 400 billion coupons distributed each year, an average of ___ of them are redeemed.
2%. That’s right! Of the 400 billion coupons redeemed, almost all 400 billion of them are thrown away. Most people just pass right by them and never use them.
9. If you “Dropshop coupons”, this means that you ___.
It’s such a nice thing to do! If you have a coupon you won’t use, stick it on the shelf next to the product, so someone else can take advantage. Share the wealth!
The store manager. In the end, it’s the store manager, not the store headquarters or manufacturer, who has a say regarding what’s found on the shelves of your local store. If there’s something you’d like to purchase, you’ll have to talk to him or her to get it in store!
Confused or want more help? Don’t forget that I teach classes and speak in the Central Indiana area! Use the code ClippingMyBudget to get $10 off a public class.
Grab the Saving Soiree e-Course button!