Coupons as a Tool to Combat the Cost of Living Crisis, But Consumers Must Be Wary of Scams

LONDON, Sept. 23, 2024 /PRNewswire/ -- Since 2022, the prices of essentials such as food and energy in the UK have risen sharply, with inflation peaking at 9.6% in October 2022. Although inflation dropped to 4.2% by January 2024, many households are still struggling with the rising costs of living. As a result, more and more consumers are turning to discount codes and coupons as an effective way to ease financial burdens. Soar, a company specializing in coupon services, operates several well-known coupon websites and has extensive experience in the industry, offering deep insights into market trends. This article, written by Soar, aims to help consumers identify and avoid potential coupon scams, particularly as the demand for coupons surges and the risk of counterfeit coupons grows in parallel.

Common Coupon Scams

1. Fake Coupon Websites 

Some scammers create fake coupon websites, tricking consumers into providing personal information or paying a small fee to access "exclusive discounts."

2. Social Media Scams 

Fraudulent coupon links often appear on social media platforms, enticing users to click. Scammers may use these links to steal personal information or direct users to malicious websites.

3. Phishing Emails 

Scammers send out emails with "limited-time offers" or "exclusive discounts," tempting consumers to click links and enter their bank information or other sensitive data.

How to Identify and Avoid Coupon Scams?

1. Verify the Legitimacy of the Website 

Always make sure the coupon source is a trustworthy website or brand. Legitimate websites usually provide clear contact information and privacy policies.2. Be Wary of Too-Good-to-Be-True Discounts 

If a coupon offers an unrealistic discount—such as extremely high percentage off or free products—it could be a scam. Legitimate coupons typically offer reasonable discounts, not extreme savings. According to a recent report by Coupert, after analyzing over 4.55 million coupons, common types of legitimate coupon codes have been identified to help consumers recognize scams.

3. Avoid Clicking on Unfamiliar Links 

Whether you encounter ads on social media or receive promotional emails, be cautious with any links asking for personal or banking information. It's recommended to use well-known coupon sites like Valuecom or Promopro, which have rigorous verification processes to ensure the authenticity of coupons and will never request personal information.

CONTACT: Grace Huang, gracehuang@soarinfotech.com