Groupon Inc (NASDAQ:GRPN) Moves To Faster Converting Search-Based Deals
Dallas, Texas 12/10/2013 (FINANCIALSTRENDS) – Groupon Inc (NASDAQ:GRPN) is one of those few companies which have rewritten online ecommerce history, after Amazon Inc’s trail-blazing efforts. Begun as a discount store, Groupon Inc (NASDAQ:GRPN) success has made all the difference, leading to micro-revolution within the discount-and-bargain industry. The company negotiated with local merchants to offer highest discounts – on services and products – for its customers, playing on the universal desire of every consumer to pay less than market price for a product or service.
It’s success has led to the mushrooming of an entire generation of ecommerce stores.
For Groupon Inc (NASDAQ:GRPN), it was a question of timing, as the group-discount and daily-deal website began its operations in Chicago, where IT major concentration is high. Online access was already mature in the region and led to rapid first-time adopters, spawning high density in use of the website.
Groupon Inc (NASDAQ:GRPN), has now grown into a multi-million dollar company, inspiring many along the way, to follow the same avatar or further innovate specific to their industry!
Groupon Inc (NASDAQ:GRPN) Unique Selling Point has been short redemption cycles of 24 hours or lesser, which is now doubling by nearly 12%.
Fast Forward with Ticket Monster
The recent announcement which will see Groupon Inc (NASDAQ:GRPN), acquiring an established player, in the discount-website scenario- Ticket Monster- from one of the hottest competitors at its Sough Koren marketplace-Living social has just doubled the total value of Groupon Inc (NASDAQ:GRPN).
Vacation and holiday website acquisitions propel growth
With Groupon Inc (NASDAQ:GRPN), concentrating on expanding its holiday and trip-deals genre has prior to the local holiday season in US and Canadian region has acquired Ticket Monster and has successfully launched 48% discount offer on 39th Boat Parade of Lights at Dana Point Harbor for December 6,7,and 13, 2013, besides 50% discount on surfboard and paddleboard at Killer Diana. Surfing and sports gear rental, too are part of the deal with Billabong, Roxy and O’Neill partnering the offers. Food too during festival is discounted at Vivo Rooftop Lounge.
And this Groupon Inc (NASDAQ:GRPN), greatest take-away in the recent past: discounts on the entire package which further enhance the complete experience.
Groupon Inc, has been a steady performer at the stock market. Through 2013, the share appears to have moved by 85 per cent, with average prices poised at $9.09. The much needed drive has come from the transition to the pull-based business model and is expected to lead to higher engagement of users. Additionally, Groupon Inc (NASDAQ:GRPN) will now explore other spectrums of good and services, going beyond its regular ‘daily-deals.’Digital coupons which will retail travel, goods and more from over 5,500 retailers is already in the pipeline for U.S and Canadian users.
The current market for online coupon market in these major markets is $4billion, while the total coupon industry itself is priced at $28billion. Therefore, in-store coupons continue to dominate and it is a massive scenario for Coupon Inc, and others to capture. eBay Inc (NASDAQ:EBAY) as well as Amazon.com, Inc. (NASDAQ:AMZN) have already begun to see higher coupon growth over e-commerce growth.
As smartphone and online users multiples, online buys will grow proportionately. It is this which Groupon Inc (NASDAQ:GRPN) is looking to groom and multiply by customizing its services and products according to user profiles of the country in which it operates.
In India, Groupon Inc, has moved aggressively and has already acquired several small-sized online deal websites, and will reintroduce the Groupon Sales for this year as well!
Move to Search-based services will lead to more profits
In a strategy expected to ensure profits boom at Groupon Inc (NASDAQ:GRPN), the website will now move from its former prospecting-based process of sending out emails to a Google-like search-based service. As Eric Lefkofsky, CEO of Groupon Inc (NASDAQ:GRPN) explained, the ‘Pull’ based services will lower the average redemption time and promote higher purchase life-cycles for its customers.