Marge Laney

Groupon's First National Deal Blows Out

August 23, 2010

FROM RETAILWIRE:
Groupon Inc.'s first nationwide deal -- an offer from the Gap for $50 worth of merchandise at $25 -- sold 445,000 vouchers for the retailer last Thursday, bringing in $11 million in revenue. What do you think of the potential for national deals from daily-deal websites such as Groupon?      [more...]

Sounds like Gap spent $7.5M to acquire 300,000 new customers, or are they just bottom feeders who wouldn't buy full retail on a bet? It's an interesting experiment for them and it just might have been worth the gamble if what the Crain's blogger said is true. Gap is definitely struggling with traffic and maybe this will get some new customers in the door.