A growing number of people are said to be falling to the spell of Groupon, LivingSocial and many other sites which offer deep discounts and mouth watering deals, prompting the customers to click “buy” even on things which they may not really want.
The average redemption rate on deals is said to be about 85% according to a survey by Yipit, a site that aggregates deals from Groupon and other companies.
This means, about 15% of the deals remain unused for a variety of reasons, ranging from simple ‘lack of time’ to complex reasons, like breaking up with a girlfriend (just in time) or someone realizing that he/she is not really the kind of person to go scuba diving.
Whatever might be the reason, you sure want to know the options in case you are stuck with an unwanted or expired coupon.
All is not lost! Once a Groupon reaches its expiration date, it only loses its promotional value, and you can still redeem it at the price you paid for.
For example, if you paid $10 for $25 worth of services, you can always get back your $10 but not $25, since the service has expired.
You also need to check your state regulations, since coupons are valid for 5 years in some states and for 7 years in others.
The fine print on a Groupon states:
“If Groupon is not redeemed by the expiration date above, its value will be reduced to the amount paid for the Groupon voucher and all other terms will apply.”
How to Redeem Expired Groupon Deals
Your first option would be the merchant who has an obligation to provide you with services/goods worth the amount that you originally paid for the coupon.
To reconfirm you can read the fine print at the bottom of each Groupon which clearly states that a vendor can honor the value of the deal or at least honor the price that a customer paid for the Groupon deal.
Your next option is Groupon itself which going by reports is a great company with a wonderful customer support. I would be tempted to check out the ‘Groupon promise.’
Nothing is more important to us than treating our customers well.
If you ever feel like Groupon let you down, give us a call and we’ll return your purchase — simple as that.
Re-sell your Coupons
The market for daily deals coupons is projected to exceed $5 billion globally this year, considering an average redemption rate of 85%, the value of unused coupons comes to a healthy $750 million.
Companies like DealsGoRound, CoupRecoup and Lifesta, are trying to exploit this market by offering consumers a place to sell deals which they could not manage to use.
Reselling vouchers on these sites is as easy as buying them from Groupon, DealsGoRound verifies the seller’s identity with PayPal and asks the seller to input details of the deal – price, expiration date, etc. — and upload the electronic voucher file.
The deal then gets listed on the DealsGoRound site for resale to other interested customers. DealsGoRound takes a 10% cut. Lifesta takes $.99 plus 8%, and CoupRecoup is free (for now!).