Today is Groupon’s fifth anniversary, and a lot is changing at Groupon on this milestone. Groupon became a public company last year, and ever since then things just haven’t gone their way. They fired their long-running CEO, and their flash sales have gone down in sales. People get their emails about daily deals, but people really aren’t buying them like they used to. New CEO Eric Lefkofsky, sees Groupon’s original business model as ancient history and aims to capture users through new ways.
People don’t use their daily deals like they used to. Instead, they now use Groupon as more a search engine for deals. People can look for deals in things they are specifically interested in. This focus shift is shown through the search bar that is now on every page of mobile site. Consumers can easily look for what they are looking for, and get push notifications when deals change.
On the mobile site as well as the web page, users open up to a personalized homepage that is based on their interests and not just based on their location. These changes are to make everything on the site more personalized, and this is a growing trend that people tech companies and startups are going towards.
The newest market that Groupon is trying to capitalize on is people on vacation. People who are on vacations go out to eat, and this is how Groupon plans to capture their business. Users can save a lot of money on their vacations if they use Groupon for a few meals. They are going to capture this with their new “Local Explorer” feature. When people are on vacation, they can explore the deals in their area and find great ways to save money.
Groupon needs keep innovating and changing to keep their customers happy. Hopefully these new changes will bring Groupon out of the funk they have been in and help them continue to save people money for the next five years.