Good morning, savvy savers! For this weeks Perfectly Positive post, I want to discuss the life cycle of coupons! A question recently had posed to me was, where your redeemed coupons go? This was a question I thought other readers may want to know as well!
Here is the coupon life cycle:
1) The cashier scans the coupons when you pay and generally places them under the cash drawer. Most cashiers are responsible for balancing the money in their till at the end of each shift, and they usually are responsible for counting the value of the coupons in addition to the cash.
2) Store manager will collect the week’s manufacturer coupons and then mail them either to the store’s headquarters or straight to a coupon clearinghouse. Clearinghouses, for those who do not know, are huge centers where coupon values are scanned and totaled so that stores may receive reimbursement checks from the manufacturer; 90% of clearinghouses are located in Mexico. At the clearinghouse, coupons will first be sorted by manufacturer or coupon’s value.
3) Manufacturers ask stores to provide “proof of purchase” for nearly all types of coupons. Manufacturers require stores to submit supplier information, product purchase receipts, and product movement reports.
4) Manufacturer coupons provide a handling fee, usually around $0.08, which is simply an additional fee the grocer receives for the trouble of accepting a coupon.
5) If a store uses a clearinghouse as addressed above, the clearinghouse cost is covered by the handling fee, and the store is reimbursed for the coupon’s face value.
6) Some larger grocery stores still get a portion of the handling fee back from the clearinghouse.
7) The cycle is repeated.