Is Groupon changing what people are willing to pay?
With the rise of online coupon megasites like Groupon and LivingSocial – as well as smaller players like SwarmJam, Wagjag and TeamBuy – it seems that saving is easier than ever before.
Even though it still has its proponents, gone are the days of scissors and coupon clipping around the kitchen table. Now all the best deals arrive in your inbox each day, generally targeted to your postal code.
Regardless of which site you choose, merchants offer a coupon on a city-specific basis that can be redeemed for a product or service, providing a predetermined number of customers buys into the deal. Users identify a deal and then spread information about it to their friends, so that they can collectively buy the item with a volume-based discount.
But will they all last?