The cool new way to save money on everything from meals at a hot restaurant to gym memberships and travel is with
collective buying power, and sites like
Groupon.com and
LivingSocial.com are leading the way in offering customers the best deals.
Groupon, for example, offers a new deal each day geotargeting consumers based on their location. (Some are nationwide, like the infamous $25 voucher that let shoppers buy $50 worth of merchandise at the Gap.) If enough people sign up for the deal, it goes live. You can recommend the deals to friends and family to ensure enough people opt in, which is especially useful in smaller cities. If not, the deal falls through and your credit card isn't charged.
I haven't personally taken part in any Groupon deals
yet (Connecticut is a little slow on the draw), but I have friends in cities such as Chicago (where Groupon began), New York City, and San Fransisco who love taking advantage of Groupon deals, especially with the convenience of social-buying smartphone apps, like
Groupon Mobile. The lure of Groupon's unique deals—like saving $25 off a $75 meal or getting 8 yoga classes for the price of 4—is that they encourage urbanites to get out there and explore their cities in ways they might not otherwise do.
Groupon recently turned down a $6 billion dollar deal from Google, so you know this money-saving trend is hot and here to stay, at least for now. And Groupon's number one competitor, LivingSocial.com, recently received a $183 million investment led by Amazon.com Inc. to help them overtake their rival. Hmmm…wonder if they're hiring…
Are you a Groupon.com or LivingSocial.com user? If so, what's the best deal you've gotten? Do you think daily deal group-buying sites are the wave of the future?
Groupon At A Glance:
1. Each day Groupon features something cool to do at a discounted price.
2. The offer only goes live if enough people join that day, a big incentive to
invite your friends!
3. Print the voucher or bring it up on your mobile device, then present it at the business to get your deal. Read the fine print so you know how long a deal's valid.
Who Uses Groupon:
- Target audience is socially active, both online and off.
- 50 percent go out twice a week or more
- Habitual users of Facebook, Twitter, blogs, and other social media tools
- Savvy online shoppers
More Daily Deal Sites Similar to Groupon:
