A totally new and innovative approach not only to online shopping, but event organizing as well. Groupon takes the power of a group and uses it promote offers and deeply discount in-demand items using strength in numbers and the concept of a tipping point.
If you go their homepage, for example, you’ll see today’s groupon offer, which is a free six-week stint with Blockbluster by Mail. This is a totally free offer, but only on one condition: 350 people need to get in on the offer in order for it to be valid. On the offer, you’ll the value ($26), the discount (100% in this case), the number of people currently signed up, and the time left until the offer expires. Here’s a list of previous offers they’ve had:
This is great for both buyer and seller. If the tipping point is not met, the seller doesn’t have to waste money giving free offers to people when the marketing isn’t worthwhile for him because not enough people have signed up. For the buyer, he doesn’t have to spend a penny until a certain amount of people sign up for the product and he gets the deal.
Under each offer are the details (every product has details, what can you do) and reviews, and Groupon has a new offer every day!
Along with the obvious benefits of shopping, you can also organize events using the same concept, making sure you’ll have enough people to go if you’re organizing a party, renting a hall, having a dinner, whatever you want to do.
If your friend jumped off a cliff, would you do it, too? What if he signed on for a groupon? Of course you would. There’s no risk!
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