I travel 30-40 times/yr and I can't recall ever putting more than one sticker on a checked bag...
Maybe it depends on the airline, but all of them I've gotten recently print the one long strip that has a receipt stub you keep at one end along with multiple separate copies of the barcode as detachable adhesive segments. The baggage check staff typically move at least one of the extra barcodes elsewhere on the bag. (I presume to make it easier to scan from different orientations if the strip through the handle isn't easily accessible.)
They often don't. Most of the time my bag only has one sticker and many people don't put other contact info on there.