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It has been roughly a year since I discovered Groupon.com via Google's Gmail advertising. It wasn’t long afterwards that I bought my first “Groupon”. If you haven’t yet tried Groupon, it’s essentially a daily 50% off coupon. The caveat is a predetermined number of coupons must be sold for the deal to be valid. Enough about that, let’s talk about my voyage with Groupon.
The first Groupon I purchased was a $40 (I paid $20) gift certificate for a local restaurant. I was jubilant! It was a restaurant I frequented and I couldn’t believe the discount I was about to cash in on.
Shortly thereafter, I headed to the restaurant to enjoy a cheap meal. Everything went off with a hitch. I was hooked!
Each morning, a new deal was waiting in my inbox. It was only too easy to justify each new purchase. Over the next couple weeks I began to amass a serious collection of Groupons.
Fast forward to present day. I no longer subscribe to Groupon's “deal of the day”, and my bank account is thankful for it. You see the trouble is, after you prepay and “save”, you still have to go out and spend. On the average, I was spending 30% more than the Groupon covered. It also began to feel tacky and cumbersome using Groupons. For this reason, I have a handful of unused Groupons.
I am obviously not the only one who feels like this. According to Alexa.com, Groupon's reach is on a drastic decline:
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