Written by: John Gunther, Sourcing Manager-Hired Services, TopSource
In 2010 the Coupon Information Corporation (CIC), an industry group of manufacturers dedicated to fighting coupon fraud, issued alerts to the retail industry about more than 400 counterfeit coupons. Coupon fraud is a serious problem that affects everyone from the retailer to the manufacturer and is growing yearly with the redemption of more internet and digital coupons. Last year it is estimated that tens of millions of dollars were lost by the retail industry as a result of fraudulent coupons.
Therefore, the best way for retailers to crack down on counterfeit coupons is through the training of their employees. Proper training will assist in the prevention of counterfeit coupons being accepted at the point of sale. Listed below are a few suggestions on how a retailer can reduce the redemption of counterfeit coupons.
- Have a counterfeit coupon policy and communicate it to store employees
- Train cashiers and store mangers on how to indentify counterfeit coupons
- Educate consumers about how to redeem coupons
- Use your point of sales system to block counterfeit coupons as they are scanned
- Develop a process to discreetly manage customers who attempt to redeem counterfeit coupons