Monday, September 27, 2010

Groupon mania

Yesterday I walked out of the Gap with two sweaters without paying a dime. So, what is the secret? Am I a kleptomaniac? No, I used a Groupon!

What is Groupon? Well, I knew you would ask. Groupon is this amazing new invention that creates a win/win situation for shoppers & businesses. Every morning, they email you a deal for one business in your area. Usually it is a local business like a restaurant or salon, but they do national companies like the Gap as well. The deal is usually 50% or more off your purchase. The deal is only available that day only, and it's like buying a gift card, but paying half the price. So once you buy the deal, you have up to a year in most cases to use it.

The reason I call it a win/win is that in addition to allowing the consumer to get some great deals, it also is a great way for small businesses to get new customers in a depressed economy. People might be going out to dinner less, so they want to go to a familiar place that they know will be good rather than trying out somewhere new. A 50% discount helps give people an incentive to experiment & maybe find a new favorite.

So, the deal that I got for the Gap was that I paid $25 for a $50 Groupon. When I went to the store, they had this sweater on sale for $25. So, I got two of them and after the Groupon was taken off at the register, I owed them nothing! So, they weren't actually free, because I paid $25 up front for the Groupon, but $12.50 per sweater is still an awesome deal. So, it seems like the Gap lost out on the deal, and they did in my case, but thousands of people participated in the deal and I'm sure at least some of those people spent more than they intended once they walked in the store.

Other Groupons I've gotten include Koto Buki (it was delicious & wonderful not to feel guilty about ordering the fancy sushi rolls) and Skreened (I haven't used this one yet, it might end up going towards a Christmas present-- you can get a custom made T-Shirt or hoodie which seems like it would be a great present.) I have used Groupons at a few different businesses, in person & online, and I've never had a problem getting it accepted or not getting the deal I was supposed to get. So, so far I can completely recommend Groupon for anyone looking for a deal. But watch out, it's kind of addictive!

In the interest of transparency I should note that if anyone uses the link in my blog to sign up, I get a $10 referral credit. But I would still be just as excited to share my sweater deal if that wasn't a (remote) possibility.

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