SAN FRANCISCO, CA--(Marketwire - Oct 10, 2012) - CoupFlip, the only site that actively buys daily deals and sells them on the secondary market, today made its marketplace available nationally by launching in over 30 more cities. People around the country can now recoup their money instantly from unused daily deals, and find the lowest prices on Groupons, Living Socials and other daily deals.
The site, which has already seen great traction in some of the country's biggest markets, is expanding into Los Angeles, Dallas, San Diego, Atlanta, Seattle, Denver, Phoenix, Philadelphia, Miami, Houston, Minneapolis, Tampa, St. Petersburg, Salt Lake City, Orange County, Austin, North Jersey, Detroit, Orlando, Portland, Baltimore, St. Louis, Sacramento, Charlotte, Kansas City, San Jose, Raleigh-Durham, Indianapolis, San Antonio, Las Vegas, Fort Lauderdale and Central Jersey.
Closing the $1.5 Billion Daily Deals Gap
As much as 30 percent of the $5 billion in annual deals sold go unused. A CoupFlip survey found that an additional 30 percent of deal consumers would have sold their deals given the opportunity to do so. This represents a large need in the industry that has yet to be filled.
Businesses turn to the daily deals market as a way to reach new audiences, but if the customers let their deals languish, then the goal of attracting new people goes unmet. CoupFlip makes it easy for deals to move from people who won't use them to people who will, helping the small businesses reach their ultimate goals.
"The $1.5 billion in unused daily deals annually is killing Groupon and Living Social," said CoupFlip co-founder Phil McDonnell. "Customer satisfaction is a huge issue in the daily deals industry, and people getting stuck with deals that they don't have the time or desire to use is a growing problem. People who don't use deals are less likely to buy again, it's worse if they're trapped and can't recoup their money. This customer problem is causing Groupon's growth to stall and their stock price to plummet. CoupFlip gives people the opportunity to sell those deals through a trusted third party and lets those deals go to people who are more likely to use them."
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Selling Unused Daily Deals to CoupFlip
The daily deals market has reached a saturation point, with consumers' inboxes filling with new deals and people often buying deals that they later realize won't be used.
CoupFlip solves this by purchasing deals that people no longer want.
CoupFlip works by paying sellers immediately for their deal based on the company's proprietary technology that values the deal based on such factors as expiration, original value, quantity sold and even the Yelp! score of the vendor. The company then sells these deals on an open marketplace in which people can buy and download the deals immediately.
Finding Deals on Deals
The savviest consumers want deals on deals, true bargains that go beyond what they can get through the main players.
CoupFlip offers the lowest prices on daily deals. Unused deals purchased by CoupFlip are sold on www.coupflip.com at a discount from the original price, providing deal hunters with an easy way to identify what they want, make the purchase and use the deal immediately.
The site is perfect for:
- Foodies looking for last-minute deals on restaurants they want to try;
- Vacationers who want a great getaway at low prices;
- Parents in need of weekend fun but without a big expense; and
- Anyone who wants a spa deal, entertainment or even deals on clothing.
CoupFlip is the only site that actively buys daily deals and then sells them on its fast-growing secondary market. Founded by several recent graduates of Dartmouth's Tuck School of Business, CoupFlip is backed by billionaire Ulrich Otto's BV Group. Find CoupFlip online at http://www.coupflip.com.