There are a lot of things that crafting has taught me. One of the biggest is the concept of "retail mark-up." Clearly the world of big box retail craft stores like Joann's and Michaels operate on at least a 40% mark-up, because there is no time at which you can't get a coupon for 40% off anything in the store.
A lot of crafters take these coupons for granted, but let's pull back and think about this. When was the last time you got a coupon for 40% off anything at the grocery store? Or even Walmart? If you're lucky you might get a coupon for 10% off something, and that would be a pretty exciting day.
However, these half-off coupons are ubiquitous at the craft stores. Michaels has the coupons available on their website and their iPhone app. Plus, just about any time you buy something at Michaels you get an extra coupon that will be good in a week.
Joann's sends them to me several times a month, and you can now get them at their website. (And they just rolled out the ability to use them on your smartphones as well. Finally catching up to Michaels in that respect.)
What this tells you is that everything in these stores is routinely marked up by at least 40%. That's the only way they can afford to be so free with these coupons.
These half off coupons are not just a cherished standby in the crafting world, they are also a boon to crafters on limited budgets. The key is to exercise restraint, and only buy one full-price item per visit. (Sale items are fine, and the coupons don't usually apply to those anyway.)
Frankly it's to the point where I would never pay full price for something at these stores. Why would you? Just wait a week or two until you get another coupon!
Image courtesy Flickr/Fan of Retail
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