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Saving You Money
In Tonight's Saving You Money report, we take a closer look at Daily Deal sites.
Groupon, Eversave, Living Social... sites like these have blossomed in
recent years raking in $1.97 billion dollars last year alone.
These daily deal sites offer bargains galore.... spa packages for $30.... house cleaning services for $40.
Vanderbilt Marketing Professor, Steve Posavac, specializes in consumer psychology.
He says, while these sites may offer deep discounts on goods and services, they're not for everybody.
Posavac says, " I think there are people who make good decisions..
people who make bad decisions in terms of how they're spending their
money. I think certainly it's the case when someone gets an offer they
might get excited about it and not thinking about other ways they should
be spending their money.. budget constraints.. and so forth."
Another thing about these sites that's so appealing is that the deal is offered for a limited time.
Professor Posavac says that weighs heavily on the psyche of consumers.... moving us to take action and buy.
Another way shoppers waste money on these deals is by not redeeming them before they expire.
Groupon, by the way, just reached a court settlement on the expiration issue.
Groupon, Eversave, Living Social... sites like these have blossomed in
recent years raking in $1.97 billion dollars last year alone.
These daily deal sites offer bargains galore.... spa packages for $30.... house cleaning services for $40.
Vanderbilt Marketing Professor, Steve Posavac, specializes in consumer psychology.
He says, while these sites may offer deep discounts on goods and services, they're not for everybody.
Posavac says, " I think there are people who make good decisions..
people who make bad decisions in terms of how they're spending their
money. I think certainly it's the case when someone gets an offer they
might get excited about it and not thinking about other ways they should
be spending their money.. budget constraints.. and so forth."
Another thing about these sites that's so appealing is that the deal is offered for a limited time.
Professor Posavac says that weighs heavily on the psyche of consumers.... moving us to take action and buy.
Another way shoppers waste money on these deals is by not redeeming them before they expire.
Groupon, by the way, just reached a court settlement on the expiration issue.
Saving You Money Videos
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