I’ve been subscribed to Vancouver Groupon for a couple of weeks and there are some really good local deals. I get an email each day with the day’s coupon offer. No, I haven’t purchased anything yet, but a few of the items they’ve offered have been right up my alley and I may buy some coupons for xmas gifts!
The way it works is like large-group purchases resulting in deep discounts (usually 50% off). Some vendor offers a deal via Groupon, and if enough people commit to buying it, the group discount is a go. Then the commitment you made to purchase it becomes an actual purchase.
In this way, the consumer pays for the deal up front (basically, you’re buying a coupon) and then uses the coupon for it anytime within the time limit (that varies, but there’s lots of time to use it, like months).
Example: Today’s Vancouver deal (that link will lead to the deal for the day you click it) is $5 for $10 Worth of Falafel and Middle Eastern Fare at Falafel Plus. The deal became a ‘go’ at 7 a.m. after 75 people committed to buying it. As I write, there have been 636 buyers so far, with about 12 hours left to buy a coupon, which can be used anytime until May 22, 2011.
No, I’m not affiliated with Groupon or anything…. I just think this is one of those good deal things out there so I’m using their referral link. (And sure, I’m hoping for the $10 credit to my account if you’re impressed with Groupon too and you sign up for some deal). Please check it out!