Groupon: American Consumers Are Spending More on Experiences, Less on Products
Groupon(GRPN) PYMNTS·2024-05-10 05:55
As consumers step up their spending on travel and on local experiences, Groupon noted, they are pulling back on buying products. The eCommerce marketplace shared in an investor presentation accompanying its first-quarter 2024 financial results Thursday (May 9) that, with the exception of its “Goods” business — which sells retail products — its North American segment, which accounts for the bulk of the business, saw +8% year-over-year growth. Conversely, gross billings from goods were down 36% year over year ...