A fairly new coupon trend is the Groupon. A Groupon is a savings opportunity offered daily over the Internet for a discounted service at a growing number of businesses. The name “Groupon” is a combination of the words “group” and “coupon” which describe it aptly. Groupons take advantage of the buying power of a group. People demonstrate their interest in a particular Groupon offer by promising to purchase it on the day it is offered. A typical Groupon opportunity would be, “Pay $25.00 for $50.00 worth of merchandise at Store X.” Each deal is offered for just one day. When enough people take advantage of the opportunity, those who got in on the offer are billed and can print their Groupon.
What constitutes “enough” people? That number is determined by the merchant when the offer is being put together with Groupon along with the amount of the discount and any conditions. Groupons usually offer at least half off the regular price.
Groupons are available in major cities and their range is rapidly expanding. To get started with Groupon, visit the Groupon website. Sign up online by choosing your city and submitting your email address. Every morning, you will receive an email detailing the Groupon offer of the day for your city.
Groupon deals are eclectic. They range from a few dollars to hundreds. They range from ice cream to skydiving. Not every deal will appeal to you. It’s exciting to know that a new and different deal will be waiting in your email in the morning.
Are Groupons complicated? Jessica Grauer, 30, has been a Groupon user in both Boston and Denver for a couple years, having participated in 15 to 20 deals. She finds Groupons to be convenient and simple to use. Jessica says, “If you’re Internet savvy, it’s super easy. I sign up for a daily email, and then if there’s a deal I want, I purchase it and print the coupon. The businesses know what’s up when you bring them in — you’re probably not the first Groupon-wielding customer they’ve had, and they’re the ones who offered the deal in the first place! I also have a Groupon app on my phone, so I don’t even have to print them out all the time.”
Why use Groupons? They offer the opportunity to try something new for half price or enjoy a discount on something you already like. Either way, if you can justify the expense, they do deliver savings right to your inbox.
Use good judgement. Keep the cost in mind — even if it sounds like an unbeatable bargain, you are spending money upfront. Remember to actually use the coupon once you have it! Another caution is not go get caught up in a frenzy. Perhaps $200.00 off a weekend getaway is a great price but it’s still a considerable outlay of cash.
Jessica’s overall impression of Groupon is, “I think it’s a great idea, which is why I stick with it even though a lot of the deals aren’t up my alley. I love learning about what’s out there, too. I didn’t know a lot of these places existed, so it helps me feel more connected to the city too.”
The benefits of Groupon are that they offer significant savings on services you know or want to experience. You may find a new favorite spot – or be glad you didn’t pay full price to discover a dud. Groupons can help stretch your dollars for the things you want to do.
Are you a Groupon user? On what services have Groupons helped you save?
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