Coupons May Not Be Saving You Money

Do you use coupons?  If you are a "smart" money manager, you do, right?  Well, maybe not.  Consider this tidbit from Money Magazine's May 2005 issue:

"Research suggests that coupons actually cost shoppers money. Tests of a new supermarket scanning gizmo in Syracuse, NY last fall showed that people who used coupons spent 8% more than folks who didn't. This follows a 2002 study co-sponsored by Washington University in St. Louis that found that shoppers spent an extra $8 on unplanned luxury items for every $1 coupon they used.  'Steak, flowers, candy -- people were treating themselves because they felt good after using coupons, and of course they spent a lot more on the treats than they saved on the coupons,' says marketing professor Ambar Rao, one of the 2002 study's authors.  Coupons can save you money on some things you buy a lot, but proceed with caution."

Interesting.  What do you think?

Comments

[nickel]

Depends on how they controlled for other variables... Maybe coupon shoppers shop less often, and thus pick up more of these incidentals per trip while buying the same amount overall. Or something else along those lines.
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http://www.fivecentnickel.com/

[savvy saver]

Here's a little inside tip from someone who works for a food manufacturer (and subsequently uses coupons very seldomly)... they know people who use coupons spend more, that's why they issue coupons. People who wouldn't normally buy a product, or buy it's generic or on-sale counterparts, will usually by the name-brand product if there is a coupon - even if it's not less expensive. They perceive it to be a deal. They also are much more likely to buy something they won't use.

I do use coupons, like the Entertainment book. Often, we only use the coupons for places we frequent regularly, but sometimes we will browse and look for someplace new to eat out or something.

[nickel]

I do have to say, however, that there are some pathological couponers in the world. There used to be some amazing couponing/stockpiling stories over on the FatWallet coupon forum (which has since been shut down).
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http://www.fivecentnickel.com/

[~Dawn]

Why would I buy things I don't use, If I need cereal, I buy the cereal I eat and if I have a coupon all the better. Same with Dogfood or toothpaste. I'm not brand loyal. I have thrown away a coupon realizing it wasn't saving me money over another brand. Maybe I'm in the minority.

[Twinmom]

I disagree with this story. I've been couponing and using the sales ads for a couple of months and have saved more, got more, and spent about the same. I dont buy things I'll never use. I may not buy the brands I used too, but who cares when I'm getting $4 toothpaste for 25 cents or tea bags and soap for free.

[Donna Freedman]

It's been years since I paid more than 25 or 50 cents for name-brand shampoo, toothpaste, deodorant, lotion, cold remedies, toothbrushes, bandages, painkillers or many other other items -- and plenty of times, I get these items FREE or actually get paid to use them. That's because I combine coupons with single-check rebate programs from three major drugstores (Walgreens, Longs, Rite-Aid). Not only do I take care of my own toiletries and household needs, I also give some to my daughter, who is living on a small disability check, and donate bags of these things to my church's emergency pantry. (So far this year I've donated more than $400 worth.) It allows me to stretch my limited income (I'm a recently divorced woman going back to college in midlife) to cover my own needs and also to help others. Some recent free-after-rebate items for which I also had coupons, making the products free or even profitable: Benefiber, Playtex Sport Tampons, Oral B Toothbrush, Digestive Advantage, Bumble Bee Fish Oil Capsules, Children’s Tylenol Cold Medicine, Garnier Fructis Shampoo, Orajel Sore-Throat Strips, Right Guard deodorant, Soft ‘N’ Dri Deodorant, Herbal Essence Shampoo, Stayfree and Kotex pads, Crest toothpaste, One-A-Day vitamins, Bic disposable razors, Crest ProHealth Rinse, Dove deodorant, Softsoap body wash, G.U.M. toothbrushes, Johnson’s baby shampoo, Adidas deodorant, Tylenol PM and Colgate toothpaste. And no, it doesn't take a whole lot of work; I file the coupons, read the Sunday drugstore ads (they mark which ones have rebates) and do all three stores in a single trip. So scoff if you like, but wouldn't you like to be getting these items for free, too?

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[kathy]

Yes, I totally diagree with this also. I am a HUGE coupon user and if you use your coupons with the sales in the stores you can save a lot of money. My normal savings each week is abut 65 - 70% of my total bill. Stock piling and using coupons on sales is the only way to shop.