Groupon: A New Way to Find Discounts

Hey Readers, have any of you heard of this new way of finding discounts, called Groupon? I recently came across it on Facebook as an ad. I was intrigued and signed up to receive deals in the Los Angeles area. Here’s what this cool new idea is all about. Groupon offers a different deal every day, ranging from gift certificates at restaurants (50-60% off is typical) to huge discounts on services ranging from mani-pedis to spa treatments to sports and cultural events (Cubs tickets in Chicago.) Groupon arranges these discounts with the offering business. Everyday, a number of special offers known as Groupons (coupons for groups) are sold via the website. When Groupon sells their targeted amount, the campaign succeeds and everyone who signs up for the deal gets it. Below is an example of how it works.

Pictured: A Sample Groupon, a Massage at a NY Spa is offered for $75.00 (50% off) if 60 Groupons are sold by June 21.

To date Groupon is up and running, in Washington, D.C., San Francisco , Chicago, Boston, Los Angeles, Atlanta and New York. So far, over 130,000 people subscribe to their daily newsletters. If you have tried Groupon, drop The Recessionista a note and let us know how you like it. For best results, I advise checking the offer on Groupon with YELP! to see what those who tried the restaurant or spa think of it before you buy it on Groupon. If it’s not highly rated by YELP! users, then it’s no bargain, no matter what the price is.

I use YELP religiously for restaurants and I swear by it. Recently, I followed a great YELP review to the Blue Dolphin Italian restaurant in Katonah, NY. It was cheep and cheerful, and some of the best Italian ever. This week, I’ll be trying the Groupon + the YELP combo to see how I do. It’s worth a try to save a few pennies. Especially with the weekend coming. We all want to go out, we just don’t want to pay full price. Groupon may be an option for helping to find some good deals!