Founded by Andrew Mason, Groupon is easily one of the most popular internet success stories today. The basic concept connects merchants and buyers on a single online platform. There are a variety of creative features that make Groupon so successful. These include the following:
- Group buying feature – when the site first appeared, this was revolutionary. For merchants, they are assured of bulk orders so it is possible to offer great discounts. Meanwhile, it is also beneficial for the website because when they feature a particularly good deal, their visitors ask their friends and family to make a purchase so the deal can be “on.”
- One deal per day – this basic concept is one of the things that make Groupon stand out from other discount sites. Instead of overwhelming users with all types of discounts at once, the site focuses on one merchant. It offers a win-win solution for everyone.
- Exciting deal variety – Groupon lists deals from all types of stores in your city from theater tickets, hotel rooms, spas, it has everything you need for pampering. The variety makes the website particularly exciting because users sign up to know about the latest deals in their email.
- Different price points – this is important from the point of view of the merchant. The varying price points of the model ensure that merchants can target the higher-end and lower-end of the market without sacrificing their brand image.
Today, Groupon is present in over twenty countries. The idea is simple but it definitely makes discounts a lot more exciting for merchants and buyers alike.
Andrew Mason (pictured right). Image via Aaron Fulkerson.