Suffice to say it hasn't been a particularly good week for former online darling Groupon. Lets round up the culprits.
Exhibit A – Small business owners hate Groupon
Research from iContact revealed earlier this week that small business owners aren't big fans of social media, but by far the most disliked was Groupon, with 70% of small business owners saying they hate the coupon site.
Exhibit B – Majority of Americans say no to coupon sites
This research from Accenture reveals that 56% of Americans do not subscribe to a deal site. Even more interesting, 42% said the “do not like anything” about daily deal sites.
Exhibit C – Groupon is losing money. Lots of money
With a stock flotation in the pipeline The Economist reports that in 2011 Groupon is set to make a loss of $280m on revenues of $1.69 billion. That's pretty impressive levels of red ink.
So all in all not a very good week for Groupon. With barriers to entry in this sector so low and a growing number of merchants and consumers reporting bad experiences with such sites, are we seeing the end of Groupon et al?