Groupon Taps Gifting Opportunity to Drive Spending Amid Cutbacks
GRPNGroupon(GRPN) PYMNTS·2024-03-16 02:34

As consumers splurge on gifts in spite of other budgetary cutbacks, Groupon is looking to capture this lucrative opportunity.The eCommerce marketplace shared on a call with analysts discussing its fourth-quarter and full-year 2023 financial results Friday (March 15) that, amid revenue declines, the company is targeting consumers’ gift spending to drive increases going forward.Interim CEO Dusan Senkypl noted that the first version of the company’s gifting offering drove a 50% year-over-year rise in gift orde ...