I DIG ENGLISH - just a cool blog about English

I hope you enjoy reading this blog
half as much as I enjoy writing it for you.
Because I have a ball.


Karola

Sunday, November 6, 2011

Business English: Groupon – Shopping for Less




Groupon is an American internet company that offers goods and services for cheaper. Customers buy coupons that allow them to dine or have a massage at lower prices, usually at 50% off. A deal becomes available when a given number of people signs up for a given coupon.





Groupon attracts businesses which are relatively new on the market and need to build a client base. They get free advertising on a phenomenally popular website and Groupon gets a cut on every purchase. A win-win situation really. Furthermore, Groupon helps retailers manage capacity. Coupons may be redeemable on a given day of the week. For example, if a restaurant coupon is usable only on Wednesdays, it may help the owner fill tables on an otherwise slow night. Thanks to Groupon, companies may charge different people different prices. Those who are pressed for time and better off will buy their goods or services at regular prices and those who are able and willing to visit Groupon and shop around will get a discount. This way both groups of punters end up getting the product at optimal prices.

The majority of Groupon deals are experience goods, i.e. goods that have to be experienced to be judged such as haircuts or food. Therefore, each city is a separate market in which local merchants try to reach their potential customers.

On November 4th 2011,  after months of speculation Groupon finally went public. The IPO took place on the Nasdaq stock exchange and opened with $28 per share. The company raised $700 million, which makes it the second biggest internet IPO after Google that raised $1.7 billion in 2004.

GLOSSARY:
goods and services – towary i usługi
to dine – jeść obiad
a deal – oferta
given – dany, ustalony
to sign up for – dosł. zapisać się, tut. kupić
a client base – baza klientów
to get a cut – otrzymać swój część (udział)
a purchase – zakup
win-win – korzystny dla obu stron
a retailer – sprzedawca detaliczny
capacity – (the total amount that can be contained or produced), tut. liczba klientów
redeemable – wymienialny (na gotówkę lub towar), (to redeem a voucher, coupon)
otherwise – w przeciwnym razie
to charge – pobierać opłatę (to charge somebody $50)
be pressed for time – nie mieć wystarczająco dużo czasu
better off – bardziej zamożny
to shop around – porównywać ceny w różnych sklepach(to compare the price and quality of the same or a similar object in different shops before you decide which one to buy) 
a discount – rabat
a punter – klient
to end up (buying) – ostatecznie (kupić)
a separate market – odrębny rynek
a merchant – handlowiec
to go public – wchodzić na giełdę
IPO – emisja pierwotna (Initial Public Offering)
the stock exchange – giełda
shares –tut. akcje
to raise (capital) – pozyskać
collective buying power – zbiorowa siła nabywcza

Based on the following articles:




 

No comments:

Post a Comment