Who doesn’t like a good coupon? Clearly, we all love to save money when we’re shopping. A coupon is a customer’s ticket to savings, and it’s how pharmacists like you can draw more people to your pharmacy.
There really haven’t been many changes to coupons over the years, perhaps because a coupon is a pretty simple concept. One little slice of paper clipped from a mailing, newspaper, or an email is the consumer’s ticket to savings. However, the reality is everything needs to change a little bit in order to keep up with the times. Plus, nothing is perfect. Changes in the couponing industry stems from problems that aren’t easy to solve with current couponing methods. For instance, consumers might not know that paper couponing is prone to fraud. Illicitly copied coupons have created backlash from major retailers and brands. With fraud comes loss, so brands are now leading the charge to fight against this issue.
The clearing process for paper coupons can be a frustratingly long process, as can the time it takes for compensation of the coupon and receipt of the discounted funds. The good news is the latest change in the coupon industry might renew your trust in the process.
While 2020 was a rough year in more ways than one, there were some good things that came out of it. One of those things was the introduction of the Application Interface (AI) 8112 standard. It’s goal was to replace paper coupons with serialized digital coupons in a mobile-first, direct-to-consumer format. And it succeeded.
8112 digital coupons can be scanned with a smartphone’s camera and sent to consumers through text messaging. Or, they can be pushed to mobile apps through product managers. Then, retailers redeem the coupons through a centralized offer database. They simply scan a QR Code from the consumer’s smartphone.
Here’s how it works:
- Customers scan the QR code associated with the promotion using a smartphone camera
- Their Coupon24 app will open and prompt new users to install the app and register
- Customers can redeem multiple coupons from the app
- A single barcode is generated for use at the register
Why Digital Couponing is Better Than Traditional Paper Couponing:
Less fraud means better offers from more manufacturers.
Streamlines and Expedites the Clearing Process
You don’t have to do anything with redeemed coupons if you don’t want to. But you’ll still receive redemption funds in a matter of days instead of weeks.
More Modern and Simple Approach
Your customers can toss out the scissors and digitally clip the offers they want instead. Plus, they can redeem all of their offers at once with a single barcode. This makes the checkout process much quicker.
As an independent pharmacist, it can be hard to get ahead. However, there are numerous great companies that can bring this technology to your pharmacy first. Then, your customers can begin redeeming digital coupons at your store before the big box stores begin offering it.
A Member-Owned Company Serving Independent Pharmacies
PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy-side of their business. Founded and owned by pharmacists, PBA Health serves independent pharmacies with group purchasing services, wholesaler contract negotiations, proprietary purchasing tools, and more.
An HDA member, PBA Health operates its own NABP-accredited secondary wholesaler with more than 6,000 SKUs, including brands, generics, narcotics CII-CV, cold-storage products, and over-the-counter (OTC) products — offering the lowest prices in the secondary market.