By the end of the year, selling goods would’ve stopped globally.
The deals site, Groupon, has announced its decision to halt the sales of physical products. These products include toys, clothing, electronics, beauty products or household items. The company’s focus would now be back on experiences.
Groupon will cease selling items in the US by Q3, and globally by the end of the year. The company’s decision to stop sales of physical goods comes in given the saturation in the market with players like Amazon, eBay and Walmart.
Groupon’s CEO Rich Williams states that the move will allow the company to build a “winning position” with consumers moving online to purchase experiences. The article highlights that Groupon fails to attract consumers to buy clothes and accessories even though they might be better priced there.
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