Groupon Inc (GRPN) Plans To Buy Retail Warehouses
Groupon Inc (NASDAQ:GRPN) is known for selling deals at a major markdown. Now Groupon will buy warehouses for storing full-price goods.
Groupon Inc (NASDAQ:GRPN) is shifting from flash sales and daily deals to full-priced goods. Fab.com, one of Groupon’s largest competitors, has launched a brick-and-mortar business for selling full-price items last year. As of April 2013, Fab.com’s flash sales were less than 40% of annual revenues.
Groupon Inc (NASDAQ:GRPN) CEO Eric Lefkofsky said that the company’s efforts would be similar to CostCo or Sam’s Club, meaning that a limited selection of items would be available at a steep discount.