I wrote a piece awhile back about companies like Groupon, organizations that e-mail out a daily deal for local businesses to attract customers. The variety is endless: one day you'll get a deal at the Gap, one day half-off margaritas, sometimes a free entrée when you buy another one. It's good stuff -- but how often do these deals go to waste?
After running my last post, I was contacted by Eran Davidov, founder of the site Lifesta, who shared a useful follow-up suggestion even if it involves pimping his own venture: what happens to all the coupons that don't get used? Most just flitter off into cyberspace, money lost: never to be seen again.
But what if, however, you could sell your unused coupons? And on the flipside, what if you could log on and look for instantly downloadable deals right before a night out, or before going shopping? Sites like stubhub.com have become popular for selling tickets to sporting events and concerts, but so far there's nothing in the marketplace that allows for selling coupons.
The site also eliminates the "meet a creepy dude downtown somewhere from craigslist" aspect, as coupons are instantly downloadable and printable in the comfort of your creep-free home. The turnaround time on sites like Groupon and LivingSocial is so quick that deals are gone sometimes within hours: Lifesta holds a coupon until it's either sold or expires. You can search by category or location, and you can buy or sell.
It's a pretty self-explanatory idea that I'm surprised didn't happen the second stubhub.com was started -- Eran really capitalized on a niche market. It's also a neat piece of spend management that I thought was worth pointing out, helping both the consumer and vendor. Start clicking, and start saving. However, in good Spend Management total cost form, I'd recommend you make sure that any coupon you might purchase is transferable or assignable just to make sure you're not left buying something at full cost.