Groupon Inc (GRPN) launches Groupon Basics

Posted May 1, 2014

Groupon Inc (NASDAQ:GRPN) has launched a new business called Groupon Basics, which offers discounts on home goods to compete with warehouse retailers like Costco and Sam’s Club. Groupon Basics is an expansion of the online e-commerce portal Groupon Goods. Groupon Basics is a discounted and bulk shopping service for home goods. Groupon Basics will start with household, personal care, and health products.

Groupon Basics will expand to canned and packaged groceries in the next few months. Groupon Basics will kick off with around 100 items like Gillette razor heads, Dove deodorant, and Pantene shampoo with discounts at around 20-30% off retail prices.

?We?re putting the bulk buying power of Groupon to work for our customers, helping them save on serious quantities of the things they buy and use every day ?? all from the convenience of their home,? stated Aaron Cooper, senior vice president of Groupon Goods, said in a statement. You do not need a membership to use Basics.

Groupon is also offering free delivery services to orders over $24.99 and will give people 5% of the total purchase back in “Groupon Bucks,” which is the website’s loyalty-faced virtual currency. This service is launching in the U.S. initially.