As a typical, broke college student, I am always looking for a bargain. From signing up for free trials using multiple email accounts for Tidal to always shopping with my Food Lion MVP card, I try to take advantage of every discount I can find. I will decide where to eat dinner solely on what Stealz coupon sounds most attractive.
Although the broke college student is a stereotype, most students embrace this generalization and prefer when companies cater to their needs, according to a survey by SheerID. Further, according to Business Insider, college students are “one of the most sought-after demographics for retailers” even though they generally have lower incomes. Students are therefore more attracted to deals designed specifically for college students that reduce the price of desirable commodities.
There are hundreds of companies that offer discounts to college students, whether it is Amazon, Apple Music or The New York Times. It seems that students are constantly being offered 10 percent off their purchase from clothing stores to insurance companies.
Companies are very eager to increase their profit, and college students are very eager to receive exclusive discounts. According to Economics Help, “working adults have more disposable income, therefore, they are less sensitive to reductions in price.” However, if you “cut prices for the student group … but keep prices high for the other groups,” it will increase profits and create brand loyalty.
According to a survey by SheerID, “82% of students say a 20% discount will get their attention” and “32% say a 10% discount will sway them to purchase.”
Since there are so many national companies that offer student discounts, and it can increase profits, shouldn’t local companies in a big college-centric city like Raleigh use a similar method to attract college students?
Surprisingly, there are not many local restaurants and companies in Raleigh that have student discounts. It makes sense that certain companies with national precedence like McDonald’s or Chipotle would not have location-specific discounts for college towns, but many businesses in Raleigh are independently owned and operated.
Every year during Student Government elections, at least one candidate advocates for restaurants on Hillsborough Street to be under NC State’s meal plan, but it never happens. Students are eager to support local businesses, but are discouraged by high prices.
However, when companies do have discounts for students, college students become loyal to that business and continue to support that business. Restaurants like Crazy Fire, a Mongolian grill in Cary, know their consumers well and offer a discount for unlimited bowls when you show your student ID. El Cerro, a Mexican restaurant off Avent Ferry Road, gives 10 percent off college student’s entire purchase. Both businesses attract college students and make them loyal to their businesses.
It all seems so simple; companies want money, students want discounts and discounts increase profit. Not only should students take advantage of the discounts already available to college students, but they should ask their local businesses why there is no discount for students. So many NC State students struggle with finances, and yet we still want to be able to enjoy our local cuisine, entertainment and culture.
If companies want to attract more of the NC State community, then they should try to cater to our desires more to achieve two things: make the customer happy and increase their own profits.
