Groupon is a successful group-buying website where users get great deals when buying products together.
Online PR News – 21-September-2010 – – (September 21,2010) What is groupon? Groupon is a successful group-buying website where users get great deals when buying products together.
Groupon works like this:
At first, a company offers a group buying deal that is a bargain, but still earns for them if x amount of users purchase their product. Then, the bargain gets posted in the Groupon site where users sign up for it. If the deal is successful (the required amount of users buys the product), they receive “groupons” - codes they can redeem for the product they group-bought.
If not successful, the deal gets canceled, and the users get their money refunded.
Groupon has, however, yet to show up in smaller local communities and only recently has steered its wheel towards Europe, not to mention the Asian markets. That’s why our Groupon clone script is of great worth for anyone willing to set up a local group-buying website. Furthermore, there are many cities that still aren’t covered by Groupon in the U.S., so the demand is still there.
Our product have distinct features, such as: the ability to post and specify deals (daily deals, weekly deals, monthly deals, etc); one-click deal sharing to social networks; adding cities and countries (this allows making your project international); adding static pages; referring users; etc. Our script even allows buying a coupon for a friend. Group script also features a fully-functional backend, where administrators can manage users; schedule deals; keep track of the site usage statistics; work with newsletters and databases; and much, much more.
Groupon is, of course, an earning and stable business model. The company has recently grown to a value of 1.35b USD, and is expected to grow steadily, both by making deals with new companies and by acquiring similar companies in smaller markets. The closest follower to Groupon, Living Social, is still far behind Groupon, but there is one but. People don’t really care where to buy stuff from, as long as the deal is great. Although the market is growing, no one expects that groupon will remain a monopoly in offering group deals.
That being said, each day you spend thinking about such business, is a day you waste. Group buying websites will earn money for as long as they have interesting offers for the buyer. It is up to you to find a suitable market, but, with sufficient advertising, earning back the $399 spent on our group script should be all but fun and games.
If you think you can become successful in a market that is yet to be fully conquered, group script is the chance to save thousands of dollars (not to mention time) in development costs, thus letting you focus on the business side more.