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How does Groupon work?

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asked Aug 9, 2015 in Shopping and Product Reviews by deviousdesigner (36,530 points)
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I have used Groupon numerous times to purchase items as well as entrance fees into vacation destinations.It can offer significant savings on goods, getaways and more.

 

 

Groupon is a play on words of coupon and group buying; however, groupon is so much more than just a coupon site. The discounts offered are amazing. For example, you can get a Dyson Multi-floor upright vacuum, regularly priced at $399.99 for $199.99.

 

Save Money on Travel

 

 

Have you always dreamed of traveling the world? Check out Groupon's Getaways. An 8 day Rome and Paris vacation  that includes roundtrip airfare and hotel rooms for the entire trip based on double occupancy is only $999.00. 

 

While I was on vacation, I purchased a Groupon for Brookgreen Gardens. The normal ticket price for this attraction is $15 per person. I was able to get entrance fees for four for $30. That's 50 percent off the standard price!

 

One thing to remember with Groupon is time is of the essence. Companies using this site only offer discounts for a limited amount of time. [1] If you see something you want, order it as soon as you see it; otherwise, you may miss out on the deal of a lifetime!

 

I would advise checking each deal out carefully before purchasing. Take time to read the fine print [2], including if there are any restrictions, additional charges or it is only available for a certain amount of time.

 

To use your groupon at a place of business, you can either print out the groupon or simply show it to the attendant. For example, to the tickets I bought for Brookgreen Gardens, I only had to show the attendant my Groupon from my smartphone. She hit the redeem button and the item was marked as used.

 

References

1.http://www.pdco.com/node/88470

2.http://money.usnews.com/money/the-frugal-shopper/2014/02/20/5-things-you-should-know-about-groupon

answered Aug 10, 2015 by LisaH (33,300 points)
selected Aug 13, 2015 by deviousdesigner
+2 votes


Groupon is a play on the word 'coupon' and indeed this is the premise of the site as a whole. It is focused on providing significant savings on local products and services for users [1].

The site is set up to ensure a certain number of people are allowed to 'accept' the promotion during an established time period. Only this 'group' is going to be able to make the most of the discount and no one else [2]. Once the user has been able to signal they are interested in the coupon and have been processed, they have an established amount of time to make use of the coupon before it is cancelled. This means, one can't hold onto it for as long as they please assuming they have it in their control. This is done to ward off those who are going to scalp the coupons down the road when prices go up and/or change.

References

1. http://www.inc.com/guides/201104/10-pros-cons-for-using-groupon.html
2. https://www.groupon.com/faq
answered Aug 9, 2015 by kingusama92 (23,380 points)
+2 votes

Groupon is an electronically broadcasted recommendation coupons that offers discounts and promos for various products and services. [1]


It has been beneficial, even to small businesses, as a fast and easy way to promote their products and services which appeals to smart consumers. [2]



Here's an infographic about Groupon's pros and cons:

 



[1] http://netforbeginners.about.com/od/guidesfavorites/f/What-Is-Groupon-How-Does-Groupon-Work.htm
[2] http://www.inc.com/guides/201101/how-groupon-works-for-small-businesses.html

answered Aug 9, 2015 by chloesophia (780 points)
+1 vote

Groupon is great! I actually use it all of the time depending on the entertainment I am looking for or if I want to save some money as I shop for gifts for birthdays or holidays.

 

Basically, there are different daily deals that you can find not only on local goods, services or events, but also national deals and items from a wide range of retailers. You will usually find discounts that can be anywhere from 30% off all the way up to 90% off. Depending on the promotion that you choose, it will be valid for a designated timeframe or until enough consumers buy it until it is sold out.

 

For example, just today I purchased a Groupon for 30% off admission for a local comic convention that I would like to attend. I bought two admissions, saving me over $50 for the pair of tickets. I paid using my chosen credit card and I simply printed out my Groupon "voucher". For this admission ticket, I also had the option to use the app on my phone to retrieve my tickets at the box office on the day of, however I chose to print them out as I am the kind of person who likes to have a paper hard copy on hand.

 

 

So, that's it. You can shop around for deals on goods that you are interested in or even local services. You will usually find everything, including:

 

- Meals

- Overnight stays at resorts, hotels, campgrounds and more

- Children's items

- Electronics

- Concert tickets

- Movie passes

- Oil changes and other car service discounts

- Clothing

- Furniture

- Beauty salon services

- Massage and more!

 

answered Aug 10, 2015 by HollyC (16,400 points)

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