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Calculating the worth of coupons to keep saving cash
(by Gene Newman - November 19, 2008)
You'd think we could decide on one way to pronounce “coupon.” Webster says it can be “Koo-pon” or “Kyu-pon.” Take your pick. Either is correct. (That's ee-ther or eye-ther). I sometimes use both versions in the same sentence.
No matter how you pronounce it, coupons have almost become legal tender in this country. In 2006 over $330 billion worth of coupons were printed and $2.6 billion worth were redeemed. It's a wonder that Congress didn't incorporate coupons into the recent bailout package.
The Coca-Cola Corporation is said to have started large-scale distribution of coupons back in 1887. By 1913 consumers had imbibed over eight million free Cokes. Around that time C.W. Post began sending out coupons for its breakfast cereals and the avalanche began.
Internet coupons are becoming popular with some of the 700 corporations that offer these discounts because they shift the printing costs to the consumer and, since only interested shoppers will print them, we could save several thousand acres of timber and eliminate tons from the recycling process.
Another benefit of coupon marketing programs is that they should improve the math skills of the population especially if our elementary schools prepare future shoppers for the challenges they will face if they decide to make coupons a way of life.
Forget about Farmer Brown and his bushels of potatoes. A modern arithmetic book problem should be something like: “The price of Brand A potato soup is three cans for $5.50. The price of Brand B potato soup is $2.00 per can. A shopper has a coupon for Brand A for a 50-cent discount on only one can and another coupon for Brand B for a 75-cent total discount for a purchase of two cans. Assuming the shopper needs two cans of potato soup, and he knows that the next day will be a double-coupon day, which brand should he buy today to save the most money? Which brand should he buy if he decides to come back tomorrow?
Well don't look at me for the answer. I've been putting off buying potato soup until this column comes out hoping somebody will solve the problem for me. I actually tried buying one can of Brand B and the checkout lady asked, “What is this? A half coupon?”
“Yes,” I replied. “The coupon is for two cans, but I'm only buying one. When I come in for the second can I'll bring the other half of the coupon.”
I thought for a while I was winning the debate with the manager, but then he called security and I was asked to leave.
Gene Newman is a resident of Parsippany.
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