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Group buying is somewhat of a new win-win online shopping strategy for both consumers and local businesses. Group buying sites like Groupon and Living Social gather large numbers of consumers to leverage group buying power in an effort to attain huge discounts by partnering with local merchants. A minimum number of purchases is required to activate the daily deal otherwise the deal is off and no group buying member’s credit card is charged. Besides the huge savings, what makes group buying particularly attractive for merchants is that it is a very effective way of getting new customers to try their products and services.
Traditional advertising and marketing strategies can’t harness the power of social media outlets to generate the viral effect that group buying sites can. With incentives to refer one’s friends to join in on a given deal, it’s not unusual to see local businesses rack up hundreds to tens of thousands of sales in less than 24 hours. Most daily deals offer discounts greater than 50% off regularly priced services and merchandise but it’s important that you read the fine print that’s associated with each deal too. By doing so you’ll not only be well informed of the restrictions and benefits of a group buying deal but you’ll also avoid wasting your money on lackluster discounts that appear to be too good to pass up. Take a few minutes to review the related information listed below, the group buying tips, and compare group buying websites before purchasing any deal offers.
Things To Consider Before Buying Group Coupons
Can I afford it? – Keep in mind that despite saving you money, these deals often encourage you to spend more than what the deal is worth. For example, if you use a $10 voucher to receive $20 worth of drinks at a local bar and grill it’s highly possible you’re going to spend more than the voucher is worth. After buying dinner for at least two people you maybe looking at another $50 in charges.
Will I really use this? – Some people just can’t pass up an incredible deal. If you have a weakness to buying things you may not need, stop and ask yourself if this is something you will actually use or not. Coupons are notorious for getting tucked away in a purse or wallet and then never getting used.
Can I give group buying coupons as gifts? – Should you ever change your mind or decide not to use a group coupon voucher, allowing another person to use it is much better than throwing away the money you spent on it. These deal vouchers make excellent gifts so make sure you know whether or not the deal is transferable, especially if it has your name on it.
Is this a reputable business? – A brief Google search can deliver useful information about the local business that includes things like user reviews and any news stories that relate to the business or it’s owners. If the local merchant is registered with the Better Business Bureau (BBB), you’ll be able to quickly find out their BBB grade. If it’s quite poor you’ll want to think twice about taking them up on any deal offerings.
How long has the local merchant been in business? – Research this by calling the business directly and asking them one on one. You might also be able to browse their website and find out when they launched their business. Checking to see if they are registered with the Better Business Bureau or if they are a member of their city’s local chamber of commerce may yield helpful information as well.
What are the restrictions of this group buying deal? – That is, does the discount voucher include sales tax, tips, and can it only be used on a certain day of the week? Do you have to schedule an appointment ahead of time in order to use the coupon at the local merchant’s place of business? Does it require that I buy a minimum amount of products/services before I can use the coupon or is the lowest priced product/service more than the actual value of the deal voucher? All of these kinds of questions are important to know in order to make a well informed decision.
When does the group coupon expire? – Some states in the U.S. have laws in place that require business owners to accept such prepaid vouchers for a certain length of time before they can expire. This time frame may vary between states but the expiration date should be clearly printed on the coupon and it may also be found on the group buying site’s promotional page for the offer.
Are there any reviews about this local business elsewhere? – Check with local service review websites like Yelp and Merchant Circle hear what customers are saying about the company. Visiting the merchant’s Facebook fan page and Twitter profile is another great place to find user reviews about the business in question.
Use the deal site’s comment section to ask lots of questions – Usually these group buying websites will include a discussion/comment section attached to each deal so you can provide feedback and ask questions regarding each group deal. Read the fine print for each one you’re considering and actively engage the moderators. Sometimes these are the actual merchants whereas other times it will be one of the site’s workers answering the questions. Regardless, the more you know about what’s included in the deal and what’s not included, the less chance you’ll be disappointed after you’ve spent the money.
Do they offer a refund? – Okay, so let’s say you buy a group voucher for a deal and you’re dissatisfied with what you bought. Most of these deals are non-refundable but there’s always a chance you can get your money back. I would suggest that you contact the group buying website from whom you purchased the voucher to inquire about a refund. If that doesn’t work appealing to the local merchant themselves should be your next course of action.
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