Coupon

 

Coupons are very common abroad and in countries where trading is formalised and structured. For example, shopping malls, free trade zones, large supermarkets etc are common examples of structured trading. These days though, Nigeria has had its own fair share of structured trade. Since the advent of the Palms Shopping Mall, the have seen numerous shopping centres spring up in Nigeria as well. Lagos is particularly awash with shopping centres as Nigerian businesses jostle to sell one product or the other.

 

But why aren’t we seeing the use of coupons to improve sales? What we see these days are sell offs and huge discounts which most shops offer when they want to replace old stock or just clear out their products. Some also offer promo’s and deals all in a bid to attract new customers and dispose of their goods. I believe coupons should be introduced into the mix as well due to its power to retain customer loyalty whilst increasing revenue base.

 

When a company offer coupons to shoppers they most likely not make a sale for that day alone they also book a potential sale. People see coupons as a kind of gift even though it means them still parting away with their cash to enjoy it. It also helps improve the culture of shopping which retailers need so badly to improve bottom line. I know we have website that offer deals but these are by no means coupons. Coupons are between the business and its customer. They can even be sent via emails to customers or inserted in Newspapers or given by hand in prints.

 

Coronation Research

What do you think? Should Coupons be encouraged in Nigeria? Do you know of companies who offer them locally?

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