Thursday, March 31, 2011

Is Groupon good or bad for you?

Alwin Fuchsia

Do you ever feel like you're spending MORE money than you would after signing up for services like Groupon. I know the point of them is getting great deals, but if I never saw the deal, then I would never be tempted to shop.

It's like what they say about diet drinks. People still get fat from drinking diet because they drink more of it thinking it's not hurting them.

What is Groupon?
Local shops and some online retailers will offer limited time discounts where you can get at least a 50% off savings by paying the cost upfront. You can then redeem your savings at a later time until it expires. You're buying a rare coupon!

Essentially you are pre-buying a set amount of money to spend at a store you may or may not end up going to later. Retailers are happy to get that "down payment" and even though it's a 50% off discount for you- There's a good chance many people will forget to claim their credit! So don't forget! How many times have I thrown away physical, FREE coupons from Express that read "$15 off $30" or "$15 off anything" at The Limited? Many many times!

I'm guilty- So far I've spent:
$5 for $10 of gelato
$15 for 3 movie tickets and a soda ($5 each)
$15 for $30 of plants and garden supplies
$5 for $10 at a mexican bakery I've always want to visit
$150 for six laser hair removal treatments

Of those I've only claimed 2 movie tickets and one laser hair removal treatment. It's almost $200 on coupons alone. I am def not going to be buying any more for now. Yes the Laser hair removal is a big chunk, but it's hopefully a long lasting benefit. Too early to tell from one visit so far. Also I'm planning on getting the plants (shown above) later this week too. I scoped the store on Sunday to be sure there were things I wanted to buy.

I would say it's good to buy the Groupon if you KNOW you'll use it within 1-2 weeks otherwise you run the risk of forgetting and losing that money. If you have an iPhone you can download the app and it's easy to check on expiring groupons. But then it's also tempting to look at the deals! ah!

If you're curious and you want to sign up, I'll receive a $10 credit after your first purchase. My referral link is here. If you get friends to sign up you can too!

I speak too soon! I am going to buy another groupon for ebay that is $7 for a $15 giftcard! I LOVE eBay and thanks to Jean for tweeting the deal. (or is that no thanks hahaha)

To answer the title of this post, I'm going to conclude it's bad for me! :D