Share & Connect
Even though the resale of coupons is prohibited on terms of service, companies such as DealsGoRound and Lifesta are benefiting from customers that are dissatisfied with their Groupon and LivingSocial deals.
According to Bloomberg Businessweek, the growing popularity of daily deals has opened the door to the popularity of sites that allows customers to sell their unwanted and used deals.
20 percent of the daily deals people buy online goes unredeemed according to Yipit reports. Customers feel their money is valued with the option to resell their unwanted coupons. Polly Chung is an active customer that purchase daily deals and stated in Bloomberg Businessweek that “now I can sell my coupons, and I don’t have to give them away (to friends) and lose my money.”
Sites like Lifesta and DealsGoRound are rivals of Groupon and LivingSocial, which do not support their services. Launched in March 2010 in Chicago, DealsGoRound now resembles ticket seller StubHub, once used Craigslist to connect buyers and sellers.
Only charging a 10 percent commission, DealsGoRound processes the payment through digitally transferring coupons from buyer to purchaser for 128 cities in the U.S. and Canada.
Based in San Francisco, in July 2010, Lifesta started a completely digital transaction and full service marketplace with a growing pace of 50 percent each month. Charging only 8 percent commissions, Lifesta accesses a $0.99 fee for each transaction on their site.
The site is exposed to customers simply unloading their coupons without much concern about making a profit due to the rapidly approaching expiration date and desire of getting rid of their coupons.
More sites like Takemycoupons.com and Sellmydeal.com have developed due to the formation of DealsGoRound and Lifesta. Even though, Groupon and Living Social does not approve of the new booming marketplace, these sites appeal to customers by giving them a backup plan when they cannot or do not want to use a coupon.
Having an option to resell their coupons, customers now have a cure for their unwanted Groupon disease brought on by useless coupons.