Groupon – Everything You Want to Know About
Introduction of Groupon
Groupon is an online marketplace that recommends local restaurants or stores in your city and offers 40-60% discounts on buying those recommended services and products. It links businesses with consumers and comes with deal-of-the-day recommendation service. It circulates an electronic coupon for a local store or restaurant every 24 hours.
Groupon works as an intermediary encouraging people to try out different stores or eateries, and earns commission when a customer buys the discounted deal or coupon.
Groupon is a free service for customers to sign up. However, it is beneficial for both consumers and businesses. Customers receive email and smartphone notifications about the daily deals. They can also search for the products or services per their location and desired industry. When a customer buys the site’s featured deal, they can purchase it directly from Groupon without having a need to negotiate with the seller. This coupon can be printed and redeemed with the seller.
Businesses come on Groupon with the expectations of drawing in new clients. They are guaranteed a specific number of offers each day. In case Groupon is unable to convey the promised allotment, the business does not need to pay a commission. However, when Groupon successfully delivers the promised allotment or exceeds it, the business must pay a commission and propose significant discounts to customers.
How It Started
Groupon was founded by Andrew Mason in 2008. However, its establishment takes us back to the birth of The Point in 2007 which was a social media platform for groups of people to come together and solve a problem. The Point wasn’t established with the purpose of making money and managed to acquire humble grip in Chicago. Yet, it made no significant progress. To cope with the struggling start-up, the staff raised an idea which could revitalize the company and could take it to a better position.
Previously, they had seen a campaign launched at The Point where about 20 people wanted to save money. Therefore, all of them decided to buy the same product and see if they’d get a discount or not.
This was the idea that clicked one of the staff members. He proposed setting up a separate page dedicated for group buying. Initially the idea was rejected by Mason and The Point’s executives calling it misaligned with the company’s core mission. However, in 2008, when the global economy dropped due to sub-prime mortgage crisis and credit markets landed to a halt, Mason knew it was time to try something new to scratch the itch. It was then that Groupon was born.
Before 2009 ended, Groupon had spread to 28 U.S. urban cities. The next spring, it achieved the distance to global markets including Germany, France, Italy, Spain, the United Kingdom, Switzerland, and Belgium.
What Groupon Sells
Groupon has a large inventory to offer from. It is a group buying site that offers daily deals and has turned out to be a reliable forum for online shopping. It offers discounts starting from 5% off up to 85%. There is nothing that Groupon has not taken on-board to offer wonderful discounts to its consumers. From restaurants, retail stores, spas to theatres, travel and automotive to health & fitness, cultural activities and events – Groupon has it all covered. It becomes more appealing at the time of occasions and festivals when people want to buy a lot for a lesser value.
Things you don’t know about Groupon
- Consumers Saved Nearly $20 Billion. Since its inception, the company has saved its customers a whopping amount of $20 billion.
- Read Find Print Carefully for Essential Details. It is never wise to skim through fine print, whether it is your iTune agreement or a Groupon coupon. It may directly affect if you can use the coupon or not. Before you click purchase, be sure to read all the conditions that appear in fine print. At times, it will be detailing that you can only choose from a limited menu with the Groupon coupon. Other fine print details may include additional fee and charges. Therefore, you should precisely know what is and is not included in your deal before you make a purchase.
- Groupon Now Enjoys a Place In The Elite Group. Though the company was started off with a non-monetary purpose, it has now made its place in the Elite Group marking its billionth sale in February 2016. Other companies in this group are Apple, Uber, and McDonalds.
- Redeeming Coupons May Give You a Tough Time. There are many discounted service or activity offers which have a limited capacity. This will further minimize as the expiration date approaches. Even if you have bought a coupon, you may have to face trouble redeeming it. For example, a spa can accommodate limited number of people in one day. As you choose going to spa in the last minute, so will others be. By the time you call them to book an appointment, they may be fully booked. You should look for a fine print ‘Subject to Availability’ while buying such Groupon deals or avail the deal as soon as you purchase it.
- Make Your Living Possible with Groupon. It is possible to live off Groupons for an entire year. To your surprise, someone actually did it. A person named Josh Stevens accepted the challenge from the company and successfully completed living one year using Groupons. He was awarded a prize of $100,000 later.
How to Redeem Coupon Codes at Groupon
You can redeem coupon codes at Groupon by following the guide below:
- Visit My Groupons and sign yourself up. There you can download and print your Groupon or get it through your mobile app.
- Once your account is created, you will need to enter your credit card details to purchase a voucher.
- Sign in your account on the site and you’ll regularly receive emails on local deals in your area.
- You can also search for your desired product by entering a keyword in the search bar.
- Once you have decided on the deal to buy, click on it where you will be given different options placed on the side of the page.
- There may be a single deal or a bundle deal. Before you finally buy a deal, read the fine print and click the green “BUY!” button on the right side of the page.
- After you have bought the deal, a page will appear showing you for one more time the item you have bought. This is where you enter your coupon or gift code. Finally click on the “COMPLETE ORDER” button on the page’s bottom and the voucher will finally be purchased.
- You can print the voucher right away if you have to instantly use it. The site will also keep it saved for your later use and send it as an email too.
- To redeem the coupon, all you need is to go to service or business in question and present that voucher. Make sure to call first and make a booking or reservation to avoid any trouble.
You can get working Groupon coupon codes from Daily Deals Coupons, At Daily Deals Coupon we test and verify Groupon promo codes 2017 on daily basis. It’s our guarantee that all coupon codes that are listed above, will help you to save money on your order. You can use Groupon coupons at the checkout.
Tips for Saving on Groupon
While Groupon already offers great many discounts on different products and services, there are a few hacks you can use to get even more savings on Groupon.
- Refer your Friends. You can ask your friends to join Groupon if they love to shop discounted deals, and who doesn’t? You will get $10 in Groupon bucks for every friend that signs up and makes the first purchase. All you have to do is sign in your account, click on your name in the top corner, go to ‘refer a friend’ and finally name a friend.
- Look for Additional Charges. A standout amongst the most costly parts of Groupon is the hidden charges, for example, shipping expenses or the gas you need to reach a destination. Keep an eye out for the hidden charges before you buy so you know precisely the amount you are paying and what for.
Another hack to make the additional charges less expensive is to hold up until occasions, for example, Easter and Valentine’s day, when Groupon offers additional rebates.
- Subscribe for the Best Savings. Rather than checking the site randomly whenever you remember, subscribe so that you get an email notification for all the best deals. Frequently you will see several more offers that are superbly suited to you. Another valuable tip is to subscribe to any city you plan to go to sooner to help make your outing much less expensive!
- Use “Best of Groupon”. One of the easiest ways to save 50% or more is to search only through “Best of Groupon”. This part offers the best deals and you will save a good amount of money!
Groupon is a win and an extremely workable idea with a snappy name. It is only one case of the solutions that independent entrepreneurs can conjure up to taking care of social issues. It brings consumers and businesses on one platform making it beneficial for both parties. Many small businesses build their awareness on Groupon. Though it may not be viable for all industries, Groupon can bring significant traffic for small and medium scale businesses in the hospitality, retail, and home improvement industries.