Collective Buying Power
Posted in Social Media on November 4th, 2009 by Lindsay Van Kirk – 2 Comments
I’m obsessed with Groupon. As a member of the generation dubbed “Millennials” I find myself deeply entrenched in the modern cultural movements revolving around social media, local consumption, social activities and frugality. I appreciate direct communication with those in charge, and have a slightly impatient streak. Groupon speaks to all of these elements of the generation by creating a discount-based marketplace for local businesses in major city centers across the US.
Groupon, launched in November 2008 as a way for members of a community to connect with great offers from businesses in their city. Each day, a business offers their product or service at a discount rate on the site, and as long as the required number of people sign up for the deal (by providing credit card info), everyone gets it. If it does not reach the person quota by midnight, no one gets the discount. The goal is that you, as a consumer who wants a product, will tell all of your similarly-minded friends so that you will all sign up and everyone wins. You can follow Groupon on Twitter, Facebook, or RSS. The range of products and services the company has provided so far is diverse, including items like groceries from an Amish market, wine classes, golf lessons and custom ceramics.