Topic: Groupon: A missed opportunity? (Read 1037 times)
Competitors could see a good cheap & easy response to the Groupon money. The price fluctuation on Bitcoin would probably the principal problem for them no?it is the main difference for the customer with thoose shit backed money.
I think LivingSocial its only france based. At least it only redirects me to french based products o.O
but it would be nice they accepting BTC
but it would be nice they accepting BTC
Given the fact that probably 0.1% of their customer have any bitcoin at all, I don't think they missed much.
Groupon Gambles Big on Mobile Payments
Not only do I believe they missed the boat on this, the boat is still moored with decaying deli goat cheese.
According to the article, Groupon, currently enjoying an 80% drop in stock price since its IPO, invested a ton of moolah to develop their form of the Ellet, with still a shipload more needed to market the damn thing.
Surely, they could have accomplished the same thing (above) using Bitcoin as their mobile payment plan, at a much lower development cost, promising virtually zero fees (with caveats), and still be able to glean the valuable data sets, the true prize most often cloaked within such an easy-to-pay model.
As for how to pitch it to their loyal merchants at an extremely low marketing expenditure (on Groupon's end), it can be accomplished via looking them in their eyes and say the following two magic word: Zero chargebacks! Hell, if I were an restaurateur, I couldn't sign the contract fast enough, hoping all along that my direct competition, Dank's Mediterranean Deli & Hookah Lounge, one block east, doesn't get wind of this.
Of course all is not lost, for LivingSocial, Groupon’s biggest competitor, would want their piece of this pie, and may duly look further into Bitcoin if they're worth their salt.
~Bruno~
Not only do I believe they missed the boat on this, the boat is still moored with decaying deli goat cheese.
According to the article, Groupon, currently enjoying an 80% drop in stock price since its IPO, invested a ton of moolah to develop their form of the Ellet, with still a shipload more needed to market the damn thing.
Quote
And Groupon clearly isn't just doing this for the fee--especially if it plans to undercut all rivals on price. As it delivers merchants analysis of their transactions, Groupon gets details of how consumers shop.
Surely, they could have accomplished the same thing (above) using Bitcoin as their mobile payment plan, at a much lower development cost, promising virtually zero fees (with caveats), and still be able to glean the valuable data sets, the true prize most often cloaked within such an easy-to-pay model.
As for how to pitch it to their loyal merchants at an extremely low marketing expenditure (on Groupon's end), it can be accomplished via looking them in their eyes and say the following two magic word: Zero chargebacks! Hell, if I were an restaurateur, I couldn't sign the contract fast enough, hoping all along that my direct competition, Dank's Mediterranean Deli & Hookah Lounge, one block east, doesn't get wind of this.
Of course all is not lost, for LivingSocial, Groupon’s biggest competitor, would want their piece of this pie, and may duly look further into Bitcoin if they're worth their salt.
~Bruno~
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