Groupon is a company which promises that it can save its members between 50% and 90% on popular goods and services with their daily deals website.
How Does it Work?
Groupon was launched in the city of Chicago in 2008 but quickly spread to many other metropolitan areas within the United States.
Within a few years, Groupon was available in more than 150 different local markets in North America and 100 markets throughout the rest of the world.
The rapid popularity and success of Groupon inspired many different competitors, including Living Social and Amazon Local, popular companies which follow the Groupon model with a few alterations.
Groupon.com works by offering a specific deal at an extreme discount and asking people to purchase the deal. If enough people purchase the deal, then it remains available for a limited number of people to purchase.
If the minimum number of people do not purchase the deal, then no one is able to take advantage of it. In addition, each deal is only available to purchase for a very short period of time before the deal “expires.”
While the company started out offering coupons and discounts for restaurants and food service providers, they have since expanded their offerings to include health, fitness, and beauty services, as well as experiences and activities.
To take advantage of the deals and discounts offered at Groupon.com, all you have to do is sign up with your email address to become a member.
Membership is completely free, and just requires your residential zip code so that you can best be provided with offers from local retailers.
Groupon.com does offer a paid VIP membership as well, for a $30 annual fee. VIP members get access to deals 12 hours earlier than non-members, as well as access to deals that have already "expired" and the ability to return Groupon deals they may have complaints about in exchange for a Groupon credit.
If you have any experience with Groupon or their services, please leave your reviews below.
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