Revisiting Grouponomics
Numbers Rule Your World 2013-03-15
Summary:
Two items of news came out this week regarding Groupon, the daily-deals company. I first wrote about them here in response to Felix Salmon's thoughtful piece. Restaurants in Westchester are unhappy about Groupon-type deals "sucking $280 million from independent restaurants". (link) Wasn't it not long ago that we were supposed to believe that Groupon is "free advertising" for restaurant owners, and brings a lot of new customers to fill the empty seats? Time to re-read my earlier post to see why this scheme doesn't work for most. Meanwhile, Groupon stock is in the cellar, and its controversial CEO has been...