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shade more than two years after its founding in November 2008, Groupon is worth in excess of $6 billion? Or maybe $15 billion, the fi gure quoted in a New York Times article about a planned Groupon initial public offering. The Grou- pon concept is to give consumers the opportunity to buy coupons for something like 50 percent off regular prices. Then Groupon splits coupon sales 50/50 with local retailers. It sounds like a great deal for Groupon, a lesser deal for consumers, and a road to ruin deal for local retailers. Presumably, all those con-
Retail America
On Sale continued from page 82
MARKETING
sumers who bought products and services for 50 percent off are going to be happy to return to their local retailers and return to buy those same products and services at full prices. That’s not going to happen. What is going to happen is that those same con- sumers are going to go back to Groupon and wait for the next 50 percent off sale. In marketing, the advantage is being different. When everyone else is running sales, it’s hard to be different by running a sale. Today, a chain can be different by not running a sale. The biggest benefi ciary of the coupon craze is Walmart, which seldom runs sales or is- sues its own coupons. Someday, some leading consumer packaged goods brand will run an anti cou- pon campaign that could shake up the industry. “No coupons. Never issued them. Never will.” In the past, discount devices
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like coupons were effective in broadening a brand’s customer base, especially if a company could keep them out of the hands of its regular users. With the advent of social media, that’s getting more diffi cult. The word about deals can spread rapidly. Look at a website called, Coupon Sherpa, a source for online cou- pons, grocery coupons, printable coupons, restaurant coupons and coupon codes to over 5,000 stores. Its slogan is, “Never pay full price again!” Is that the future of retailing in America? Only time will tell. The preced- ing was adapted from a column in Ad Age by Al Ries, chairman of Ries & Ries, an Atlanta based marketing fi rm. ■
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