What are the reasons?
For one, eBay and Amazon is getting more popular than before. With low prices and lesser overhead costs (no real estate rental) They continue to thrive with lower prices.
With smart phones, buyers are increasingly aware that for most sales, the sale prices are more than that of Amazon! The Internet is increasingly integrated into our lives as this is one of the way we connect with our friends and family through social networks.
On the Internet, you do not need to compete with crowds and queue in long holiday queues. You have a wider choice and most times it costs less than stores. You expect less in terms of customer service and thus the experience is generally better because of the less expectation.
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What Groupon's Doing That Google Couldn't.
Social commerce is getting more important and popular than ever. With the profits Groupon is getting, they are getting more sales staff and targeting more SMBs which the big boys are not going after.
On the social front, social media has powered them to leverage on the masses to make the incredible sales happen. For some deals, powerful influencers can easily bring enough people to make it happen.
Many things have changed. To be successful today, businesses must embrace online strategies and social networks. Marketing traditionally can only get you that far, and the market share is shrinking. Do not stay in the past. Embrace the future.
-- Robin Low
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