IRC’s
Posted by Joël on February 14, 2006
Joel:
I attended a presentation in the PMA web cast and there were multiple references to an IRC. What is exactly an IRC and how do they work in the retail environment? I work for HP so retail partners includes Best Buy, Staples etc.
Although I did not attend the PMA webcast, I’m fairly certain that IRC, in this context, refers to Instant Redeemable Coupons.
Couponing is a proven winner when it comes to below-the-line promotions. According to data from the PMA, 76% of the US population use coupons. IRCs, according to 2003 PMA estimates, make up 1.5% of all coupons. An IRC is a coupon usually found on a product’s packaging that can be easily removed for shoppers to redeem it at the time of purchase.
IRCs are available in a variety of types, styles, and sizes. IRCs typically receive a higher consumer redemption rate than normal coupons.
