A lot of people have been asking me what Groupon is. Simply put, its part of a trend of companies that bring social networking into the world of coupons.
Basically it works like this; each day Groupon, through its website, daily emails, and mobile app, sends out a different deal (or several deals) based on where you live. Each deal offers goods or services, typically from a locally-owned business (some websites and franchises are also included), at a substantial discount of at least 50%, although the discounts do sometimes go as high as 90%. The deals are ususally offered for a limited period of time before they expire.
For example one deal in my area is from a local spa, offering me a pedicure that normally costs $25 for 12 dollars. Another offers me $100 worth of photo books and calendars for only 35 bucks!!! If you agree to to the deal, and the deal becomes valid, you end up paying the lower price up front, and redeem a coupon on site. Now if you buy the coupon on a Monday, that doesn’t mean you have to redeem it that day, but there is an expiration date most of the time.
Pretty sweet right? Bet you’re wondering what the catch is.
Well there is one, and this is where (more…)
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