Things have been getting increasingly difficult for coupon site Groupon. The firm is facing decline in revenue as the rival firms are
posing a big challenge. Apart from the several me-too and poorly funded startups, there are some formidable names in the fray too. The latest entrant in the field is Nokia, which rumors suggest is looking to start its own coupon service 'Perks'.
According to ZOMGitsCj, there is a video on Vimeo extolling the virtues of Nokia Perks. Though, it looks like Nokia has completely forgotten to innovate and is happy just following the trend. The modus operandi of the site seems simple and in line with the existing sites. If you do like a deal, you can go ahead and buy it. The barcode will be sent to your phone and then you can use it to avail the discount. Well done Nokia, you do have the guts of entering into an already-crowded segment with absolutely no USP. Oh wait a minute, actually Nokia does differentiate a little and as an added perk, it offers you directions to the store using its mapping app.
Back to the woes of Groupon, the company, which once was offered $6 billion by Google, is now bracing itself up for stiffer competition. The company itself has admitted that its revenues are suffering and the consumer loyalty is nowhere to be seen. The Wall Street Journal reported that in Boston, the number of Groupon deals bought by a customer now stands at 1.7, down from 1.9. Things got a bit uglier, when Google started its own 'offers'. Yea, Groupon probably should have accepted that 'reasonable' $6 billion offer.