Coupon

In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions. They are often widely distributed through mail, coupon envelopes, magazines, newspapers, the Internet (social media, email newsletter), directly from the retailer, and mobile devices such as cell phones. The New York Times reported "more than 900 manufacturers' coupons were distributed" per household, and that "the United States Department of Agriculture estimates that four families in five use coupons. "Only about 4 percent" of coupons received were redeemed. Coupons can be targeted selectively to regional markets in which price competition is great. Most coupons have an expiration date, although American military commissaries overseas honor manufacturers' coupons for up to six months past the expiration date. The word is of French origin, pronounced kupɔ̃. In Britain, the United States, and Canada it is pronounced ˈkuːpɒn . A common alternate American pronunciation is ˈkjuːpɒn . During the great famine of 18 AH (638 CE), Umar, the second ruler of the Islamic Caliphate, introduced several reforms such as the introduction of food rationing using coupons, which were given to those in need and could be exchanged for wheat and flour. Coca-Cola's 1888-issued "free glass of" is the earliest documented coupon. Coupons were mailed to potential customers and placed in magazines. It is estimated that between 1894 and 1913 one in nine Americans had received a free Coca-Cola, for a total of 8,500,000 free drinks. By 1895 Coke was served in every state in the United States. In 1929, Betty Crocker began a loyalty points program and began issuing coupons that could be used to redeem for premiums like free flatware. In 1937 the coupons were printed on the outside of packages. The loyalty program ended in 2006, one of the longest loyalty programs.