Valassis not counting on boom in coupons as economy slows.(Valassis Communications Inc.)(Brief Article)

Crain's Detroit Business, November, 2001 by Neff, Jack

Valassis Communications Inc. isn't counting on an upswing in business because of a historical trend that links economic downturns to an increased use of coupons, but it isn't counting it out, either. Although the recessions of the mid-1970s and early 1980s prompted more coupon distribution, this time around, the story isn't as clear.

Industry watchers cite factors ranging from growing retailer power to new accounting rules that make coupons less attractive on marketers' income statements. The restrained outlook is unusual considering the clear coupon booms that accompanied past busts, including a 10.9 percent increase during the milder recession of the early 1990s. That's according to NCH NuWorld Marketing, a Lincolnshire, Ill.-based coupon processor....

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