An Interest In:
Web News this Week
- April 19, 2024
- April 18, 2024
- April 17, 2024
- April 16, 2024
- April 15, 2024
- April 14, 2024
- April 13, 2024
February 19, 2020 02:19 pm
Photo by Scott Olson/Getty Images
Original Link: https://www.theverge.com/2020/2/19/21143595/groupon-products-physical-sales-ended-experiences
Groupon is abandoning its physical goods store
Photo by Scott Olson/Getty Images
Groupon will no longer sell physical stuff like toys, beauty products, clothing, electronics, or household items, the company announced on Tuesday. Instead, the deals site will go back to focusing on experiences after another lackluster financial quarter where revenue fell 23 percent.
“We believe our plan to exit goods will allow us to dedicate the focus and resources necessary to build a winning position as the purchase of experiences continues to migrate online,” Groupon CEO Rich Williams said in a statement.
The decision to stop selling physical products comes as the company realized it was competing in a saturated market dominated by giant retailers like Amazon, Walmart, and eBay. Consumers just didn’t think of Groupon as the place...
Original Link: https://www.theverge.com/2020/2/19/21143595/groupon-products-physical-sales-ended-experiences
Share this article:
Tweet
View Full Article
The Verge
The Verge is an ambitious multimedia effort founded in 2011More About this Source Visit The Verge