The Future of Coupons

Last year, Americans saved more than $3.7 billion using coupons, and coupon usage continues to grow. The increase isn't just related to the economy; it's also because emerging technologies make coupons easier to use and more accessible than ever before.

While many consumers still clip coupons from the newspaper, research by Coupons.com shows that shoppers prefer digital couponing by a margin of six to one. Companies issued more than 1.2 billion digital coupons in 2010 -- a 41 percent increase from the year before, according to Coupons.com.

But click-to-print coupons and mobile phone coupons already are old news. Soon, shoppers will be acquiring and using coupons in all sorts of new ways. Here are a few coupon trends to watch.

Near field technology. Industry experts say the future of coupons lies with near field communication technology, also known as NFC. This technology allows manufacturers and retailers to distribute coupons digitally based on your current location. "Say you've checked in at Lollapalooza, for instance; you could opt-in to receive coupons or notices from vendors at the festival," says Brad Wasz, co-founder of CouponTrade.com. "The classic example is that of two friends near a coffee shop. The coffee shop could, in theory, alert the friends of their presence and invite them to enjoy a two-for-one coupon."

While only one phone on the market (the Nexus 5) supports near field technology, Google's Wallet technology is making it more widely available. "Google has created a sticker with the NFC chip embedded into it that you can stick on your phone, allowing users to swipe their phone at NFC-enabled terminals to pay for their purchases," Wasz says. "Yes, a sticker, like you used to put on your folders in fourth grade." (Learn more about the Google Wallet sticker for Android phones here.)

Text messaging. Also known as SMS, text messaging also is taking coupons into the future. "Manufacturers and retailers can send an SMS on a coupon for their product," says George Bousis, co-founder of CouponTrade.com. "The consumer can then share this coupon with hundreds with a simple touch of a button. SMS message coupons and marketing can be a quick and easy way to reach customers. Several companies and news outlets are already using SMS messaging to create special offers for their customers and invite communities to special events, such as movies, concerts or sales."

A study by Juniper Research predicts that use of mobile-based coupons will rise 30 percent within the next two years.

Signing up. To get SMS messaging from manufacturers and retailers you like, look for short codes on their ads, websites or at storefront locations. These codes typically look like a phone number with only five or six characters, which are typically used for sending SMS messages, Bousis says. "You can also reach out to your favorite brand and ask to be signed up on their SMS contact list."

By taking advantage of the latest coupon trends, you can receive good deals from the companies you like, right when you need them. The downside? You may grow tired of ongoing coupon blasts, so be sure to sign up only for the types of coupons you really want.

Tell us: How do you find and use coupons? Share your best tips in comments below.

Read more: Deals! Discounts! Rebates! Cashing in on the Online Coupon Craze and How to Cut Your Grocery Bill in Half (and Other Stories)

Previous Post: Hot Topics: Demise of the CLASS Act

Next Post: Soldiers Project Founder Honored at White House