Consumers everywhere, whether recession-conscious or not, cannot resist a good deal. This is why online coupon company Groupon continues to gain popularity among frugal consumers; however, it seems this movement's influence is dwindling with small businesses. Our Chief Trend Hunter and innovation conference speaker Jeremy Gutsche visited CTV, Canada's #1 Newscast, to provide his expertise on the subject.
Theoretically, a small business' involvement with Groupon will result in more bodies through the door and thus, more exposure; though this is often the case, the company's 24-hour expiry discount model does not, in many cases, equate to loyal customers for participating companies. Gutsche thinks this is not the fault of Groupon, but of companies that "haven't totally figured out" how to use it yet, identifying the addictive site as "an interesting new business model."
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