Do you know your store’s sales cycles?
The average American spends around $7,000 a year on groceries. If you want to lower your food costs, you have to learn the sales cycles for the products you want.
Almost every grocery item follows a 6-week sales cycle. By timing things right, you can stock up on the things you need at half the cost! Along with discounted prices, a lot of sales also offer customers rebate opportunities to put money back in your pocket.
What is a rebate exactly, and how can you put them to work for you? Read on to find out!
What Is a Rebate?
Rebates mean money back in your pocket, but what is a rebate exactly? Rebates are a way for you to get money back after buying a product. The purpose of rebates is to boost sales.
Companies can market the rebates as sales promotions to incentivize customers to buy. In some cases, the rebate is an offer made by the manufacturer of the product. However, retailers can also offer rebates.
If it’s a large store like Target or Walmart, they’ll probably be working together with the manufacturers to offer the rebate. When large retail locations have complex rebates set up, you might need more than 1 rebate for each qualifying item.
You also have to pay attention to the specific details your rebate entails. Certain rebates are only redeemable at a specific store location, while other rebates will work regardless of location. It’s also important to note that not all rebates look the same. There are many different types of rebates, and rebate forms.
Types of Rebates
When a sales promotion includes a rebate, the rebate form can be physical or digital. Examples of physical rebates are the ones the cashier prints on a special receipt when you purchase the sales item.
You might also gain access to a digital rebate that you have to download from a specific website. Does your rebate include words like, “instant” or “immediate”? If yes, it’s likely you’ll receive the funds from the rebate the second you complete the form.
Instant rebates are great for when you’re trying to stick to a strict purchasing budget. However, not all rebates are instant, and some take weeks or even months to payout. There are also different payout methods to go with different types of rebates.
For starters, you might receive a paper check that’s delivered to the address you provide on the rebate form. Another payout option some companies use is a prepaid card they mail to you. Once you receive your prepaid card the funds will already be on it and you won’t have to worry about going to a bank.
Are you thinking about buying a house? Save money by using a home buyer rebate. Homebuyer rebates allow you to receive an agreed-upon amount of the real estate agent’s commission. Certain companies will allow you to receive as much as half of the agent’s full commission, which means thousands of dollars in your pocket.
Why Do Rebates Exist?
Earlier we mentioned that rebates are promotional tools to help marketers boost sales. However, that’s not the only reason manufacturers offer customers rebates. Another reason rebates exist is to help companies get information about their target audience.
When you fill out a rebate, you’ll have to provide the manufacturer with your name, number, address, and preferred payment method. The company can then use this information to study the behavior of their consumers.
For instance, the company will be able to see what geographical areas most of their customers come from to buy that specific type of sales item. Another reason for rebates is that it helps companies keep customers satisfied. Instead of discounting the sales item, and then raising the price again later, rebates keep products at a set price point.
Finally, companies also benefit when customers forget to turn in their rebates. That’s why we suggest filling out your rebate and turning it at the moment you receive it. If you stick your rebate form in your wallet or purse, it’s not likely you’ll turn it in on time, or at all.
How Can I Get Rebates?
Now that you know what rebates are all about, you’re probably ready to start cashing in! To receive mail-in rebate forms, you’ll first have to purchase the promotional product.
The next time you’re grocery shopping, pay close attention to the packaging of the products lining the aisles. Look for hangtags or things that peel off, these are usually good indicators that the product has a rebate offer.
You can also search for reputable couponing sites to find rebates local to you. Sometime couponing websites will have apps you can download to help you find rebates specific to the type of things you’re interested in buying.
As you look for rebates, you’ll begin to notice that certain stores offer rebates more often than other locations. For instance, Staples, Target, Rite Aid, and Walgreens all love to offer rebates on a wide variety of products.
Once you find a rebate offer, don’t stop there! Since rebates are a type of sales promotion, the product may have other discounts available. Look for coupons and discounted prices in addition to the mail-in rebate offers.
Finally, we find that some of the most beneficial rebate offers are the ones for wine and beer. Usually, beer and wine rebates will require you to purchase a specific grocery item too.
Start Cashing In
What is a rebate? Now you know they’re money you can receive, simply for buying something you wanted anyway! What rebates are you going to start looking for today?
Will you be searching for rebates at your local grocery store? Or are you ready to download a couponing app to search for all the rebates local to you?
Whatever rebates you choose to get, remember to fill out the rebate form right away so you don’t forget. For more pro tips like the ones in this article, check out the rest of this site.