Not a coupon: Groupon looks to compete with Amazon
Photo courtesy amusingplanet.com
SEATTLE == Groupon is buying warehouse in an apparent effort to set itself up as a competitor against online retailers like Amazon.
The Wall Street Journal reports the company is putting together a network of warehouses to store its physical goods business. Groupon is expanding through the sale of merchandise, and relying less on its original business model of emailed daily coupons.
But unlike Amazon and Overstock.com, Groupon says it offers only a revolving selection of goods, similar to Costco or Sam’s Club, which offer few items but at lower prices.
According to The Wall Street Journal, Groupon’s revenue has tripled to $186 million from one year earlier.
For more on this Wall Street Journal story, click here.