The Power of Numbers: Cutting Down on Leisure Expenses with Group Buying Sites

When people have tight finances, leisure expenses are the first ones to get cut off in the budget allocation. We often have to forego entertainment and leisure for everyday essentials. With group buying sites like Groupon, you do not have to make such a sacrifice anymore. Deals on spa treatments, beach vacations, hotel accommodations, and airfare among others are made much more affordable in these websites. At up to 70%-90% discount, these deals will definitely fit your budget.

The merchants offering these deals are able to offer such huge discounts because they are assured of selling a pre-agreed number of units or packages. The deal is made between the merchants and the group buying site. Once the target number has been achieved, the deal is closed. If, on the other hand, the deal does not reach its target number of sales within the offer period, the deal is called off. To take advantage of these deals, there are several things that you have to keep in mind.

   

1. Check the merchant or retailer

Always take the time to get to know where the offers are coming from. It is not the group buying website that will deliver the final product or service. The website merely negotiates group deals and opens them to the members of their website. You still have to ensure that the merchant or retailer offering the deals are legitimate and will honor the group deal that you buy.

2. Read the fine print

These group deals often have specific requirements for you to avail of the discounts. For vacation packages, for example, most of these deals specify periods during which you can use your group deal voucher. In most cases, these periods are during off-peak seasons. The fine print will also tell you about expiration dates, maximum allowable vouchers, and other applicable restrictions.

3. Share your deals

As mentioned above, some deals that do not reach the required number of purchases do not push through. If you see a deal that you really want, you can put in a little word-of-mouth promotion and share the deals with friends and contacts in your social network. When you do this, you increase the chances of filling up the required number of purchases – make sure that you purchase your deal first or it could get sold out before you get your voucher.

As with all purchases, online or offline, always set a budget so you don’t get carried away availing of all the great deals. These group buying sites should save you money and not put you in debt.