Groupon launches a new service called Groupon Basics

Summary: Groupon, the largest U.S. group buying website that has expanded into online fashion sales and the Korean market, launched a new service called Groupon Basics in Thursday to sell razors, vitamins and other consumer goods to get more in the E-commerce market

Groupon, which has expanded into online fashion sales and the Korean market, has launched a new service called Groupon Basics in Thursday to sell razors, vitamins and other consumer goods to gain a bigger share in the E-commerce market.

Groupon Basics will provide consumers with more than 100 classified products such as home, personal care products, health care and food, which will be open to U.S. users, the statement said. Users do not need to register at Groupon Basics shopping, more than 24.99 dollars in shopping, free shipping services.

Groupon spent $260 million at the beginning of this year to buy the South Korean group purchase website Ticket Monster, and spent 43 million dollars to buy Ideeli, a network apparel retailer. Groupon is trying to transform itself into a full-service e-commerce site like Amazon. Although Groupon's size is still unmatched by Amazon, the market is still attracting big and small rivals as the US E-commerce market reaches $148 billion trillion and maintains an annual growth rate of 7%.

"We do think Groupon Basics will be a new place for users to shop online," said Rob Lopez, general manager of Groupon Basics. Robert Lopez. Although the street has a large number of physical stores, but they are super not convenient, because the door will not be set up at home. ”

Groupon Basics will be affiliated to Groupon's online retail service, Groupon hereby. Last year, Groupon's hereby revenue reached $1.87 billion trillion, up 25% from the previous year.

Mobile applications

Lopez says Groupon has been testing Groupon basics for small businesses and individual consumers since March this year. Groupon negotiates directly with product suppliers and distributors and stores the product in a storage center in Hebron, Kentucky State. Currently, users can use Groupon Basics services online or through Groupon applications.

Under the leadership of chief executive Eric Levkovsky Eric Lefkofsky, Groupon has been expanding its business through acquisitions. This February, Groupon expects net profit in the first quarter to fall short of market expectations, as spending rises devour profits.

Groupon's shares were closed at $7.08 in the Nasdaq stock market in Thursday, up 1.3% from the previous session. Groupon's share price has fallen by 41% this year, with Amazon's cumulative decline reaching 24% per cent.