What a concept! Groupon is a discount experience website that allows Groupon members to obtain all kinds of goodies from 50% to 90% off. If enough people sign up for the deal of the day, the deal is activated and ready to use. This reminds me of a popularity contest in some way, as enough people need to sign up for the deal to be on. I love the fact that there are this websites available that offer regular folk the opportunity to experience or purchase beautiful things for a fraction of the cost.
The question is, what is in it for the vendor? Well in my opinion I see these websites as a tool to acquire new clients that otherwise might not purchase from them or even know about them. Since the website offers a diversity of deals, its members are exposed to different brands.
In addition, it is a great way to promote your product or service and create awareness among consumers. This is a new business model that is growing fast in part because it partners with social networking sites. Social networking is HOT and people love to share what they like on these sites, so it makes for a perfect complement.
This site is so popular that event Google made a $6 billion offer, but guess what? Groupon declined the offer. They must see real potential on this.
What do you think about GROUPON? Will you sign up? I did. For more on great deals check this article out
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