For our blog this week, we've decided to take a look at a popular service called Groupon.
To find out more about Groupon, you may watch this video.
Here is a video of a CBS story on a Groupon experience.
The summary on the research I did is:
Groupon is not a way make a huge profit off of the coupon itself.
Although you do not have to pay to be put on Groupon, you will only earn about %25 of the original retail value of the product. (So for example - For a $60 dollar retail value arrangement, Groupon will advertise it for $30, then they will keep %50 of that, so in a $60 arrangement you would make $15)
What Groupon does is, it attracts new customers to walk into your shop, and like the salon owner in this video says "Once they come in, it's our responsibility to make them repeat customers,"
We do not endorse Groupon, but I personally believe that it could be beneficial to our local flower shops. After all, everyone needs flowers, so why not try to hook people with this service?
To read more about the pros and cons of Groupon click here
Also, here are some examples of other florists Groupon deals.
I hope this was helpful to you in determining wether this service is something you could benefit from. If you have any questions or comments please don't hesitate to ask!
Hope everyone has a great week!
- Eki Flowers Team
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