Shoppers are working harder than ever to find deals as retailers pull back on the promo codes that once made saving money easy.
Retailers issued 45% fewer discount codes in the second half of 2025 than at the industry's peak in 2023, according to coupon platform SimplyCodes, which analyzed data from 80 national brands — including CVS, Walgreens, Walmart, DoorDash, H&M, Kohl's and Old Navy.
"Brands are just becoming more smart and intelligent about the way they leverage discount codes when looking at their inventory, their margins, and how that ties into things like acquiring new customers," said Jimmy Doheny, SimplyCodes' director of operations.
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Devon Williams, a mother of three, said she has noticed the change firsthand.
"There’s never really any savings in there that I need," she said. "It just encourages you to spend more on what you don't need just to get a little bit of savings."
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Deals with strings attached
Doheny said the era of universal promo codes is largely over.
"Those days of 'get 20% off for everyone,' those are kind of gone and they’ve been gone for a little over a year," Doheny said.
Doheny said retailers are shifting toward gated offers — discounts tied to memberships, store credit cards and mobile apps. Since 2023, those types of offers have grown from 10% to 19%.
"Retailers figured out that broad discounts eat into margins on stuff that would've sold anyway," said Stephanie Carls, RetailMeNot's retail insights expert. "So now they're pickier about who gets the deal and when."
How to save with fewer promo codes
Jennifer Johnson, founder of True Fashionistas, said signing up for loyalty rewards programs is now essential for shoppers looking to save.
"They are looking at more of a model of rewarding customers for shopping with them, more of a loyalty system," Johnson said.
The downside to loyalty programs is that shoppers must hand over personal information to participate.
Doheny also recommends monitoring retailers' websites, apps and social media accounts.
"To see, do they offer discounts there that maybe aren't really publicly visible,” he said.
Carls said the better play is knowing when to buy in the first place.
"Presidents' Day, Memorial Day, Black Friday still deliver. Off-season timing still works," she said. "And when deals do show up, stack what you can: loyalty discounts, cash back, price matching across retailers."
Always check for perks before you buy, so you don’t waste your money.
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