The real deal with Groupon
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- Опубліковано 14 січ 2012
- Groupon CEO Andrew Mason is in the business of bargains, and business is very good. But is Groupon's swift success sustainable, especially given competition from the likes of Google and Amazon? Lesley Stahl reports.
Never heard. :D Got here via UA-cam Autoplay from Luxottica video by 60 minutes.
+Jehzeel Laurente Me too
me too
+Jehzeel Laurente me 2
+Jehzeel Laurente Me too!!!
Same!
What I've found though, is that the Groupon deals are usually for places that are seriously lacking business and need to attract more customers
Fy
I really like this Lady
+Jay Wang I love her too... just saw 2 videos, and she is amazing!
Most negative comments look like jealousy at work. Fad or not the guy did something that 99% of people in the comments never achieved and the guy still has his head on his shoulders. plus he still hires people not algorithms. I admire that.
Investors lost money and business have lost money...
Groupon was/is a Fad, i used it once and never again... I have not used them but once since I paid more for a service that I needed and when I was in the place I ended up spending more than I wanted to...
I'm a bussnies owner, i had a deal on Groupon. And it's right, the ones who bouht our deal, never came back to purchase full price. It's like mental thing. "Just 1 month ago i payed half price, now you expect me to pay full price even thouh i loved it" So i had no more deals
+Dreamformeable when i worked at wendy's, my boss complained of the same thing - we had swarms of customers when there were coupons printed, and it didn't turn any of them into repeat customers. he always said, "coupons don't work"
Well Sir, if I may: the problem is the huge discount they force you to put in place. That 50% off IMO does not attract potential buyers who are experiencing "a bit of friction" (ie: if you are a restaurant you are not targeting people interested but who say "i'm just slightly afraid of not being happy with the outcome of the dinner). You are actually targeting deal fanatics who will make a purchase just cuz of the 50% off price and then never be interested again. Rather by putting a 10/20 or even 25% off you are more likely to actually decrease the hypothetical friction and gain a loyal customer (less discount means actually more interest in the product by the customer, nah?). So tahat is the real "deal"; groupon targets only people who run after discounts without the need for a service or product, thus unlikely to return. My 2 pennies
The message is clear to me: people are telling you you are charging more than they are willing to pay.
Dreamformeable for me is t depends on the customer service. The ones I have purchased I won’t go back yet it’s because the service or the customer service was so poor rather then the price .
7:56 That 'horror story' sounded like a business woman that didn't do the math before discounting her food.
true
@jhon doe no, she should have done the math. I am a business owner and Groupon called me a few years back wanting me to offer a deal with them. Didn't make sense for me, so I didn't do it.
Went skydiving 3 times, thanks to Groupon lol
Looks like it covered the parachute too!
RateKid299 but the question is: would you buy it otherwise? Probably you spent money on a thing you wouldn't buy un the first place.
"no, I own like over four ties"
Yeah I really liked that response and could tell it was genuine haha
Andrew Mason was fired from Goupon a little more than a year after the company went public. He should have sold the business to Google for $6 Billion when he had the opportunity.
Thanks for the 12 min groupon commercial 60 minutes.
Group On came along when most local businesses were hurting and most people had to cut back on non essentials, so people looking for cheap entertainment and businesses that needed to keep their doors open jumped all over this. So you ended up with a bunch of customers looking for a deal and not really caring about product because it was so cheap anyway.
1:59 "Yeah it could be for a restaurant, a massage, or a sensory deprivation tank"
Well that escalated quickly.
Har!
I went to the Moon Thanks Grooupon
I love Groupon...I've discovered the coolest Mom-n-pop types of places in my town, and when I travel to other places. If the place is good, I'll go back. If it isn't then I won't. I've become a repeat customer at quite a few places. And I always buy more when I do use Groupon...if the spa service is supposed to be $120, and I get it for $60, i make sure to buy product or an additional service , and tip based on actual -not discounted -price.
Spoiler Alert: Their stock sinks like the Titanic
Even the Titanic didn't sink that fast
He's so cool, and down to earth and witty!
i work for credit card disputes and we receive tons of complaints about this company...
OK, how can I not love a CEO that uses a Comic book analogy.
Groupon exploits small businesses. I used to get calls from Groupon trying to get us to sign up. They get a 50 percent cut of the sale. How can a business owner turn a profit?
Don’t they usually mark up the prices to Compensate
"I own over 4 ties"
lololololololol
I'm hairless. Thanks Groupon!
Ive watched new businesses almost fold doing groupon. Trying to get their name out and build a customer base, they perform the work and do the service. Then the customers never return. word of mouth only goes so far after hearing the deal groupon customers get.
I went on a staycation with my bestie and used Groupon for great deals on a trolley ride around the city, discounts at an upscale restaurant, and admission to a beautiful art museum. I don’t think I spent $300 on EVERYTHING all together!
just don't by jewelry
This company is pure hassle and genius making money just by paying electric bills, its amazing.
I use it to buy toilet rolls in bulk
Most restaurants I have visited using Groupon are not very popular and never been back
"I own over 4 ties" 😂😂😂 you rebel you
So this is the shit that used to spam me until Microsoft got their shit together with the spam filters
***** Until Groupon didn't have enough money to pay microsoft spam service ;)
I also bought tickets for Zelda and their tickets were not what I paid for let alone valid. Drove two hours to San Diego. If this happened to you let me know and we can file a law suit together.
Easier for you to get to your local nearby university, find the safe room, and then start using the coloring books and crayons.
If you know this industry inside out, this video is just brilliant. You couldn’t write a script that became a screen play if you tried.
Coupons do work I've bought things at full price nd never came back where as coupons I tend to buy and tip more
Bruh my parents ordered me an iPhone from Groupon and we got the sketchiest package with no phone in it. There was a charger and an adapter, that's it!!! what a scam. Funny story: the product was sold by the official company not a third party person.
Janan Patel Are you sure it really was Groupon and not some Nigerian, Chinese or Indian scam? Those three countries are full of cyber criminals.
I actually like this guy lol
Oh, please tell me who would buy it.
When he made that Xmen/Wolverine reference and it cut to her saying "Im not sure what that means..." I bust out laughing lol
I've got some good hardline deals like headphones and have never had any problems with Groupon, my biggest gripe with Groupon is it takes like 2 wks before you get it
+1thess523 it's totally possible for consumers to get good deals. the problem is, business owners and groupon don't make a profit.
03/06/20 GRPN stock price @ $1.10 and $631 Million Market Cap.
Post an update on the stock lol.
This is awesome. Andrew Mason is very inspiring and Groupon sounds like a really great place to work!
nooo. if they hire about 150 ppl each week, means that there is a high turn over rate
This video is from 2012. I am sure that hiring trend has tapered off a bit. Still a growing and successful company.
Hello Rachel.
How are you?
I used to love groupon it was fun but now no way.
Groupon May 2019: Stock price $3.43 and market cap at $1.85 billion.
George McGovern This answers the initial question asked.
Still $7 now just 200 million market cap otherwise it would’ve been a penny stock
Great opportunity for a small business owners to expose them selfs and provide public with a better service then companies with big advertizing budgets focusing on revenues rather then customer service.
I don't know, had it show up once or twice in my facebook feed and fount the same stuff cheaper on amazon.
Smart move going on 60 minutes. There were good and bad parts but even bad publicity is good publicity
How about some comments from Groupon users, Lesley? Afraid of hearing something negative?
I found my customers would only show up with the coupon and never see them again, until I finally put together a marketing platform. Now when I use Groupon to get them through the door, I can now capture them and re-market to them and am not using the old school newsletter by email gimmick, that is dead and doesn't work anymore. You just have to figure out what works for you, but by itself you will keep losing money.
You get what you pay for with Groupon...the so called "deals" are not really deals. Groupon should start really looking in to some of these so called "deals". A lot of the times it is not really a deal.
Free is better than cheap. People get used to cheap. People don't get used to free
aww what a fun loving person he is. no wonder his idea is growing like a giant.
I’m currently wearing woven olive green harem pants from Nepal that I purchased on Groupon!
I get so many compliments on these! They were $11!
He seems super happy.
our business refuses to groupon. pimps turning real work into cheap tricks.
Andrew Mason IS THE BEST CEO EVER !!!
Groupon and Facebook are the next MySpace and AOL.
Bet on it.
Now it’s Tik Tok!
Groupon ripped me off too
I’m SO SICK on these lying CEOs WTF
The way he sits on that chair at the 5:30 mark 😊😅😂
Funny! His leg will fall asleep if he sits like that too long.
LOL! Nice Wolverine quote but the lady didn't seem to understand it. Haha!
Yes minister
Amazing lady
I from victoria BC. out of nowhere a random lay out for victoria BC's groupon shows up at 3:18. Its also for the month of october. This came out in jan. trippy yo
Doesn't Stahl always sound like she is talking to a 4 year old?
I left a bad review for a service I was unhappy with & the place called me complaining, saying I was mean & to take it down . Reiterated to them that they knew when I left I was unhappy . Felt bullied to take it down . I no longer feel safe to give an honest review .
Turned me off from Groupon , which I have really enjoyed using, until I was harassed / bullied on the phone .
Okay Karen
Hello Grace.
How are you?
@@jefrossman7546 I’m gd thank you Jeff
@@sistergrace9833 No, thank you Grace for taking the time to speak to me, I am a bored man, I work a lot and don’t have much people to talk to, i am very happy you’re doing good and I got a reply from you, I hope we can chat more.
"i own over four ties" haha, awesome
I completely agree, groupon is not the same. Their customer service sucks. They sell you tickets with no exact seating. They hire horrible customer service reps. I ordered a towel and after a month I had to call because I never got it.
should sell to Amazon and move on
Is this Wilson Fisk?
I had the idea of implementing this in my country but since the budget is small, I paused it. I was having dinner one night and i realized that somebody else is already doing this. Too bad!
They're not functioning in India yet?
That guy is really honest. Too honest for western markets. He obviously didn't get the memo lol
So what im getting at is Groupon is amazing for the consumer/buyer but Horrible for the Bussiness/Seller?
now it's nearby
GooooooooooD Job
I HATE getting bombarded with e-mail and I systematically unsubscribe crap like this.
Any website can sell a coupon that takes affect if so many people buy one. He never mentioned any intellectual property rights. MySpace used to be awesome, they once had a name too. The technology industry is the most ferocious in the world. There are companies around the world that do nothing but copy successful products and business models, not only American Tech companies copying each other. I speak as the principal of my own technology company. Mason created a clever marketing tactic..
What is up with that guy's left eye's iris? @7:28
It looks strange to say the least.
Why the hell does everyone look so beautiful at Groupon?
360p? Really?
I went NASCAR racing thanks to groupon
Now the stock is worth $3 and change. I wonder when it will hit zero.
I like this guy. I watched the interview with the luxottica (did I spell that right?) CEO about a week ago and he seemed really annoying.
Alien man @6:52 seriously, he didn't even change his left eye to a human one.
Never heard, got here for the case study lol
"It grew so quickly, so fast". SAME THING!
Hello Diane.
How are you?
Well, think about him as you will, the fact still is indisputable that he has created a company that is worth billions.
It'd would be interesting to see if Groupon would cut it's own take by %50 and see how they like it, now that they've got overhead expenses.
Hello April.
How are you doing?
Do we need to salute rich people that could be ones also, or rest on the fact that this creates jobs and sustains healthy enviroment. How do you put a price tag on that? Groupon should take advantage of this and become usefull to everyone, if ceo would have nerve to give shares to employees this could be humongous.
i seen he has his thinking cat on !
I wouldn't say no to a session in a sensory deprivation tank
Fast forward to 2016, Groupon's stock has nearly crashed. But, this might be a historic time to buy with Ali Baba's uncertain involvement.
i've never used it.
well, I guess I better submit my resume
Dont let this joke of a company stop you. Keep pushing forward; study the groupon model, find its strengths, weaknesses, and learn from its mistakes.
I am from the future and can confirm Groupon is doing fine.
Ooooh...I smell "Lawsuits" sprouting up on Groupon for 2021.🤮
i dont like their business model, where tehy trick out mom and pop shops
+Beryllium It's up to the the business owner as to if they want to participate or not!
Once I use my circus tickets I'm closing my account and never again buying from groupon. Makes me sick to know how they didn't stick to their word of "the loyal customer is always right"
0:57 was it a fad or a real change? Well I guess now we know what it it now.
Groupon blocked me from posting on Facebook after warning people to contact the FTC and Chicago's Business and Consumer Affairs division as well as their local Consumer Affairs concerning their false and misleading fraudulent ads. I also gave information how to locate Groupon's *agent* if one feels the need to sue in local small claims court. Each small claims court provides help and services needed to locate their agent. In my situation, I was only refunded due to having two conflicting documentations with Groupon upon trying to prove they advertised misleading ads and then located their *agent* needed to file court documents.
This lady have a way to make andrew stuttered. I like her
Leslie Stahl is a pro.