The Chicago-based Groupon Inc (NASDAQ:GRPN) is no longer interested in being known for its often invasive daily deals that began their run into hundreds of cities; instead, the company is interested in being known as an “e-commerce marketplace” that is evolving and changing each day. Its newest foray, proving spring might actually be here no matter the contrary nature of the weather in parts of the nation, is into the wedding industry. Men and women alike splash out billions of dollars each year on their nuptials and Groupon Inc (NASDAQ:GRPN) wants their cut while “saving” you money.
I say “saving” as I’m sure I’m not the only person who has felt pressured into activating a deal I never used, or forgot about it until it was long expired. However, with their wedding offerings the deals are instantaneous and are tangible items rather than a golf simulator package that I once purchased before realizing it was in Singapore.
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Weddings cost money
According to TheKnot.com’s Real Weddings Survey, 2013 took the average cost of a wedding up to an all-time high of $29,858, a 5% increase for the year. Consequently, saving a bit of money is of paramount importance to many.
The Groupon deals
For the bride, Groupon Inc (NASDAQ:GRPN) is offering 65% off on a selection of Nicole Miller gowns. Rather than a $1,430 retail price, Groupon will deliver them for a mere $500. Grooms can get in on the action with a 1-carat diamond ring from Aurora Diamond Collection for $1,000 rather that $11,000. For Moms and Dads of the betrothed, how about a honeymoon package in either Tuscany or the Bahamas for the kids?
While Groupon has offered these items separately in the past, this is the first time that the company has curated all of them in a single location. The launch comes following the success of a trial run the company underwent in January that was quite well received according to Lisa Kennedy, Groupon Inc (NASDAQ:GRPN)’s vice president and general manager of fashion and apparel.
“What was pretty amazing to us was not just the velocity that we saw but also the fact that consumers were talking about it,” Kennedy said. “From there we said, ‘How can we make this better?'”
In true Groupon Inc (NASDAQ:GRPN) fashion these deals won’t last long and a number of them are only available in limited quantities. Whether it becomes a fixture on its site remains up in the air along with the bride’s bouquet.