Dallas, Texas 04/11/2014 (FINANCIALSTRENDS) – Groupon Inc (NASDAQ:GRPN) shares were down by 4.8 percent during trading on 10th April. While,the sell off in the stock occurred in the run up to the internet information services provider fixing 6th May for announcing its 1Q14 operation results, there were no specific triggers which initiated yesterday’s sell off.
In spite of the sell off yesterday, the stock has been lately struggling to retain investor interest and confidence. In response, its management team has been working overtime to device new ways to attract and retain customers. Two such new initiatives have been making headlines recently. The first is Groupon Inc (NASDAQ:GRPN) announcing earlier this week that it was kick starting a online wedding shop and is offering steep mark downs on a host of weeding costumes and artefacts, which include gowns, tuxedos and engagement rings.
In its efforts to launch the online wedding store with a bang, and attract huge footfall into the new site, Groupon Inc (NASDAQ:GRPN) has been offering 65 percent on Nicole Miller gowns. It has also disclosed that it is offering weeding rings at 1 carat gold dimond rings from Aurora collection at $1000, while the sticker price is $10,000.
Groupon Inc (NASDAQ:GRPN) vice president and general manager Lisa Kennedy commenting about the loads of new visitors that the website has been able to draw since its launch, has been quoted to have said that, “What was pretty amazing to us was not just the velocity that we saw but also the fact that consumers were talking about it. From there we said, ‘How can we make this better?'”
It followed up the wedding collection offer with a even more irresistible offer called Elite Deal Series on 4th April, in which it was offering luxury goods like “diamond rings and high end designer handbags, featuring premium plus pricing”. The stock had seen a big jump in its share price when this new promotion was announced.