The Most Talked About Business Moves of 2012
Daily Deals a Dying Trend?
Researchers into consumer psychology could write whole books about the disenchantment with daily deal sites. The avalanche of offers got tedious. And there are just too many companies, although economic Darwinism is culling the herd. Many merchants, meanwhile, experienced a brief, sometimes unmanageable bump in traffic that cost them money and didn’t reliably produce new regulars. Groupon’s stock price is down more than 10% from its IPO. Amazon wrote off more than 90% of its investment in Living Social. Gilt Groupe has closed down its men’s fashion site, slimmed down its food site, and is trying to sell its Jetsetter travel site. Maybe it can offer it as a deal.