Groupon, the largest daily deal website, reported disappointing third-quarter revenue this month. Scott Olson / Getty Images / AFP
Groupon, the largest daily deal website, reported disappointing third-quarter revenue this month. Scott Olson / Getty Images / AFP

Deal-breaker: The US companies turning their backs on coupon sites



Josh Neblett, the co-founder and chief executive of GreenCupboards, an online retailer, is busy planning how he will get the word out about his eco-friendly products during the holidays, including email campaigns, Facebook advertisements and joint promotions with suppliers.

One item not on his list: the daily deal coupons popular last year.

"We did three different LivingSocial deals last fall and at the end of the day, it did not pencil out enough for us to continue," says Mr Neblett, who started his 55-employee, US$15 million (Dh55m) company in Washington in 2008.

"The average net loss per order was significant and the average customer we gain through our own marketing initiatives repeats business with us at a significantly higher rate."

He is one of a swell of small business owners souring on daily deals.

A survey conducted last month by Manta, a small business listing service, of 1,087 of its members showed that 82 per cent do not intend to run daily deal promotions this year.

Only 3 per cent said such campaigns have garnered them repeat business; 3 per cent said they lost money on daily deal coupons.

Groupon, the largest daily deal website, reported disappointing third-quarter revenue this month, sending its stock price to a record low. LivingSocial also reported a third-quarter loss.

Groupon has featured more than 250,000 merchants in its coupon deals worldwide and half have signed on again over the past two quarters, the Chicago company says, pointing to a survey it commissioned in March.

"Thousands of merchants across the globe will rely on Groupon this holiday season to serve as their local marketing partner during a crucial time of year for their business," Julie Mossler, a spokeswoman for Groupon, wrote in an email.

"Our merchant services team will be working hand-in-hand with these business owners to make sure they're ready for their Groupon promotion and prepared to make the most of the increased exposure they'll enjoy among new and existing customers."

The daily deal model, which offers a deeply discounted, one-time coupon with revenue split between the merchant and the daily deal site, seems to be working for Lorien Clemens, a marketing manager at Pet Hub, an online start-up also based in Washington.

"We are partnering with several daily deal sites this holiday season and they're quite beneficial for us," Ms Clemens says.

"Dollar for dollar, we spend less to acquire a customer through Groupon than we do on any other means, including Facebook ads, and it helps us establish long-term relationships."

Founded in 2010, the five-employee company sells dog tags that link to an online database containing information about the pet's owner, plus veterinarian and medical conditions.

Many new customers who signed up with Pet Hub through Groupon and other coupon promotions have found lost pets thanks to the tags, Ms Clemens says.

Because Pet Hub is primarily a service company, it can afford to break even or take a loss on coupon discounts in the hope that first-time users will stick around.

But for a product-based business such as TravelKiddy, which sells travel kits and toys for children, results were not good.

Jennifer Untermeyer started the Colorado-based business in 2009 and carries 800 items.

She brought in $78,000 in revenue last year, but the five daily deals she ran with various promotional companies wiped out her anticipated profit margin.

"We have a 40 per cent profit built into our pricing, but we lost a significant amount of money on each deal," Ms Untermeyer says.

"We were sort of sucked in with the great sales pitch" that the coupon companies offered.

"Customers who redeemed the coupons did not come back and more than half bought just the coupon amount - nothing else."

Some wanted her to honour their coupons after they had expired and berated her on the telephone when she refused. "They asked when I'd offer one again. I told them never."

Daily deals burned a vocal minority of small business customers of Zoovy, a San Diego e-commerce platform aimed at small to mid-sized businesses, says Brian Horakh, the company's founder.

"We're seeing something of a negative backlash now," he says.

Other customers have found ways to incorporate deal coupons into marketing plans: they use them sparingly to boost website traffic, but negotiate deals allowing them to at least break even on each sale.

Mr Horakh faults the coupon companies for not coming up with a tool that helps small businesses convert one-time coupon users into repeat customers.

"There have been a couple of attempts, but no one has come up with that golden goose," he says.

Company%20Profile
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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Business Insights
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  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Fringe@Four Line-up

October 1 - Phil Nichol (stand-up comedy)

October 29 - Mandy Knight (stand-up comedy)

November 5 - Sinatra Raw (Fringe theatre)

November 8 - Imah Dumagay & Sundeep Fernandes (stand-up comedy)

November 13 - Gordon Southern (stand-up comedy)

November 22 - In Loyal Company (Fringe theatre)

November 29 - Peter Searles (comedy / theatre)

December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.