Groupon revealed its plans after unsuccessful Q4 2019
Groupon has announced it will stop selling goods, according to Ecommerce News. Instead, it plans to focus on the opportunities the local market can provide.
The decision to exit goods market came from the fact Groupon couldn’t compete with such giant retailers as Amazon, eBay, Walmart. The problem was that customers didn’t think of Groupon as a place with better prices where they could buy apparel, toys, electronics, etc.
The company considers the plan to stop selling goods online as an opportunity to focus more on services, as the purchase of experiences keeps on migrating online. As for 2020, Groupon intends to enlarge its inventory, modernize products, and refresh the brand.