We all know it: Groupon. Whether or not we like or use it, Groupon has become a big player in the market and offers discounts on products in multiple segments, such as fashion.
What is it?
A website where you can register your e-mail address in return for special offerings in the segment you are interested in, for example fashion. Deals that are offered are only valid after a x-number of people buy the product or service, which also makes it a form of social shopping.
How does it work?
The website always asks for your e-mail address and the place one currently stays. After filling out that information, consumers get access to the deals that are valid in the specific areas they live in. Buying a deal is easy as the green button “Buy now!” encourages you to buy the product after which you get a confirmation mail, with often a specific code, that refers to your purchase.
What is its core value?
Groupon is a commercial party, so its core value is to make money by offering the best deals. Consumers get the option to buy products and services that often includes a big discount.