Online shopping has carved out a large chunk of the buyers’ market for itself. Statistics reveal that about 2.14 billion people worldwide in 2020 preferred to buy and sell products over the Internet. It holds significant attraction for several reasons, including convenience, privacy, and variety. However, one of the primary reasons buyers are attracted to e-commerce is coupons, since they are perhaps the best way of getting discounts and cashback. But first, you need to find the best coupons, ensure they are valid, and select those with the best deals. A coupon extension lets you do all that and more in a quick, easy, and effective way. What are they, and how do these coupon extensions work? Read on to find out.
What are Coupon Codes?
A coupon code, also known as a promo code, is a unique series of characters used by online shopping websites to give a discount or limited offer for a specific product or service. Discounts are usually available either as a percentage or a particular amount. You can get codes by shopping for a minimum amount, advertisements, or being referred by an existing customer. There are coupon tracking websites or coupon extensions that track coupon offers from several online stores worldwide and allow you to use them before checkout.
What are Coupon Extensions?
As mentioned above, coupon extensions are referred to extensions that help you find and use the best coupon codes during checkout before you’ve completed online order. You can easily install them in whichever browser you might be using, and they will also save you considerable time.
How Do Extensions Identify Coupons?
The entire process begins when you first install the extension in your browser, after which it sets into action by identifying and making a list of coupons in three ways mentioned below.
Extensions read the code on the specific online shopping website when you visit it and type the code at checkout.
You can directly submit coupon codes to the particular extension you are using, enabling it to be shared with others.
In some cases, businesses may form a partnership or collaborate with the extension and develop special coupons. They do it for several reasons, one of which is to build customer loyalty and relationships.
Steps to Activating Coupon Extensions
You can activate the coupon extension in three ways, and all of them are connected with the other.
In the first step, you will download the extension to your browser (for example, Google Chrome).
Once you have installed the coupon extension, it will collect and gather all the information on coupon codes that are available across various online shopping websites.
When you purchase an item in the online store, the extension will automatically apply the largest coupon to your cart. Alternatively, it could present a pop-up list of promo codes that other users have recently used.
Purpose of Coupon Extensions
Coupon extension software and online stores that develop partnerships have three primary objectives: profit-making, data-collection, and long-term awards.
The first and obvious motive behind coupon extensions is profit-making. Retailers or online stores and their partners who collaborate with browser coupon extensions have to pay a specific commission to them. Even if the retailer does not participate in this partnership, you can use an extension to find a particular coupon code. The retailers usually choose to join because not doing so is disadvantageous. The reason is that coupon extensions could direct you from the website even after you have purchased a product to your cart by showing you a similar item on a different website. In the long term, the retailer could end up with many lost buyers.
Coupon extension and their partners also have data collection at the back of their minds. However, the collected data is not sold but shared collectively and anonymously, without the direct involvement of the extension. The information is beneficial to their business model and highly valuable to their partners. It helps them understand the customers’ behavior and develop strategies to attract more buyers in the future. The data collection is transparent and particular emphasis is placed on the security of personal information.
Most coupon extension browsers have loyalty programs that reward customers for regularly visiting their website and using them to obtain, use, and share the codes. They can even convert the rewards into money with time, thus enhancing their appeal to the buyers.
If you carry out online shopping regularly and look for discounts and the best deals, you should use a coupon extension. If you are not familiar with coupon tracking websites, you should try them and enjoy the various benefits they provide.