Groupon, Living Social, Eversave, Facebook, Amazon, these sites selling deeply discounted deals are everywhere. And, views about their use and value are also across the board. Especially, for business owners.
Personally, I love a deal. It means I have more money to spend on something else or save it for later. As a business owner, I’m not a fan. Let’s be realistic, frequent discounts or deals can devalue your product or service. Eventually, no one wants to pay full price and it becomes harder and harder to cover costs without reducing the quality of the service.
So, how did we get here?
When this new concept of pre-paying deeply discounted deals came out, the attraction for the consumer was that they “would never pay full price again”. Of course at the same time, the merchants were being told, “you’ll get new customers who will stick around and pay full price”. Anyone else see the issue?
There are numerous success stories. But, lately it seems there are far more complaints from businesses that find these deal seekers are harder to please and more critical on the social networks. Which leads me to ask the question, are these deals worth it for businesses?