Redeeming the deal can be a disaster6 of 7Try to wait a few weeks before redeeming your deal. If the deal website sold thousands of deals at a local eatery, do you really want to be part of that chaos in the first week?"You'll be wasting your money because you'll likely have a bad experience," says Vincent Schiavone whose company, ListenLogic, advises large companies on social marketing. "Also, you may not realize that the establishment makes little to no money on your visit, based on how these deals are set up by Groupon and LivingSocial. And so they are often underemployed and unable to handle the slam."Merchants typically get 25 percent of the value of the coupon, according to The Wall Street Journal. For example, if Groupon is offering $50 worth of food at a local eatery for $25, the restaurant gets only $12.50 and Groupon takes the rest.Schiavone advises you check Yelp.com for reviews to make sure there are no problems with your deal at that establishment. Related Articles:Don't get suckered by sales10 grocery savings secretsStretching vacation dollars7 retail shopping secretsRelated Links:Curb impulse buyingFight frugality fatigue4 steps to a simpler life8 debit card secrets advertisement
Try to wait a few weeks before redeeming your deal. If the deal website sold thousands of deals at a local eatery, do you really want to be part of that chaos in the first week?
"You'll be wasting your money because you'll likely have a bad experience," says Vincent Schiavone whose company, ListenLogic, advises large companies on social marketing. "Also, you may not realize that the establishment makes little to no money on your visit, based on how these deals are set up by Groupon and LivingSocial. And so they are often underemployed and unable to handle the slam."
Merchants typically get 25 percent of the value of the coupon, according to The Wall Street Journal. For example, if Groupon is offering $50 worth of food at a local eatery for $25, the restaurant gets only $12.50 and Groupon takes the rest.
Schiavone advises you check Yelp.com for reviews to make sure there are no problems with your deal at that establishment.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.