Coupon Tip: Compare Promotions Carefully for the Best Deal
I recently got a card in the mail from Michael’s claiming their biggest promotion EVER on framing. While this may be true, sometimes you have to run the numbers to figure out what the best deal really is. Craft stores have recently started offering framing deals with an interesting formula of percentages off. Instead of just offering 60% off, they now offer 60% + 10% off. This seems like it would be a much better deal but it’s really a pretty small difference with how they apply the percentages.
Here’s an example:
Michaels framing promotions I’ve been offered recently
Previously the best deal was 60%, then 60% + 10% and now they are claiming that the best new deal is 50% + 30% off. While the numbers look like it would be a much better deal, when you run them, it’s not as big as you’d think.
For the sake of ease, we will say your framing project costs $100.
With the 60% + 10% promotion (formerly advertised as the best deal ever), the price would look like this:
Framing Sale Price: $100 – 60% = $40 – additional 10% = $36
With the new best deal ever promotion of 50% + 30% off, this is what it looks like:
Framing Sale Price: $100 – 50% = $50 – additional 30% = $35
This makes for a $1 difference at this price point. If you need framing it’s a great deal but after some thoughtful consideration, it’s probably not a one time, best deal EVER sale.
This is one example of why it is so important to carefully consider promotions and how they compare to other deals or sales you have seen. Sometimes a deal is worth it to rush in for it and make sure you snatch it up, but other times, it’s just not!