Groupon Inc (NASDAQ:GRPN) Posts Record Sales Last Week – EBAY, WMT


Dallas, Texas 12/04/2013 (Financialstrend) – Groupon Inc (NASDAQ:GRPN) executives would be exulting looking at the sales numbers which are being reported now that the dust is settling around the sales which were recorded in the run up to Thanksgiving Weekend  and Cyber Monday this year. It is not just Groupon Inc (NASDAQ:GRPN) but the broader retail industry made up of the likes of eBay Inc (NASDAQ:EBAY), Wal-Mart Stores, Inc. (NYSE:WMT), Dollar General Corp. (NYSE:DG) and Target Corporation (NYSE:TGT) which have been seen grinning ear to ear this year as the sales figures for the holiday season beginning have started to come home.

Strong Sales Last Week

Groupon Inc (NASDAQ:GRPN) has announced that in its relatively small life span of 4 years, the past extended weekend sales which included the past Thursday and this Monday have seen major sales records being broken. It has seen its sales go up by more than 30% in comparison to previous year. It also released interesting facets of this year’s purchase patterns. Apparently, more than 50% of its sales this year was consummated via a mobile device.

Huge Active User Base Serves As A Captive Audience

The internet based selling engine Groupon Inc (NASDAQ:GRPN) has an envious 43.5 million online users as its customer base. It uses this treasure trove of tech savvy and online shopping friendly users who are adept at leveraging their smart phones and portable tablets to entice even more sales by sending out daily emails which offer the best deals for the day on various products on its website. Following the news, the stock of this smaller of the big budget online retail player went up by a impressive 3.89% in comparison to its previous day close. The stock ended yesterday’s trading at $3.09 per share taking its price 145 percent above its prior 52 week low price.