What is Groupon? – Groupon is one of the more popular group buying (a.k.a. collective buying, group purchasing, group coupon) sites.
What are group buying sites? – Group buying sites partner with merchants to offer consumers incredible savings on products and services.
How do group buying sites work? – The merchant agrees to offer customers a specific product or service at a greatly discounted rate (usually 50% off or more) if the group buying website can generate more than the specified minimum number of sales chosen by the merchant. Once the minimum number of sales is reached, the deal becomes activated and all the customers that signed up for the deal become eligible. Eligible customers’ credit cards are charged for the purchase and they receive an email for a printable voucher that is used to redeem the deal with the merchant. For example, a typical daily deal may include $100 worth of services from a merchant for only $50.
What if the minimum number of sales isn’t reached? – If the minimum number of orders isn’t reached then the deal is canceled, no one is able to take advantage of the deal, and the customers’ credit card isn’t charged.
What are group buying sites? – Group buying sites partner with merchants to offer consumers incredible savings on products and services.
How do group buying sites work? – The merchant agrees to offer customers a specific product or service at a greatly discounted rate (usually 50% off or more) if the group buying website can generate more than the specified minimum number of sales chosen by the merchant. Once the minimum number of sales is reached, the deal becomes activated and all the customers that signed up for the deal become eligible. Eligible customers’ credit cards are charged for the purchase and they receive an email for a printable voucher that is used to redeem the deal with the merchant. For example, a typical daily deal may include $100 worth of services from a merchant for only $50.
What if the minimum number of sales isn’t reached? – If the minimum number of orders isn’t reached then the deal is canceled, no one is able to take advantage of the deal, and the customers’ credit card isn’t charged.
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