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Groupon (GRPN) Inks Deal With Redzy to Boost Engagement
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Groupon (GRPN - Free Report) recently brought on board bookings and distribution platform for tours, Redzy, as its first partner for Groupon Connect to bolster customer engagement on the platform. Shares of Groupon have increased 25.6% since the announcement of Redzy deal on Aug 18.
Groupon Connect is the company’s next-generation API (application programming interface) launched recently. It facilitates partners to join the marketplace relatively faster and seamlessly.
Redzy is a well-known software as a service (SaaS) booking and distribution platform for tours, attractions and activities based in Australia. It has a footprint in about 100 countries.
For Redzy, the deal will help all the operators connected to its platform to access Groupon’s 38 million customers, at a time when international travel has been severely impacted due to the coronavirus outbreak. Further, it will offer operators with an improved yield management and enable users to easily exchange their Groupons.
Meanwhile, for Groupon, this deal will increase high quality booking inventory and attract more users on its platform. Also, by bringing reputed partners
Groupon can enhance customer experience and decrease purchase friction. Initiatives to boost user engagement are expected to instill investors’ optimism in the company’s stock in the days ahead. Notably, on a year-to-date basis, shares of Groupon have declined 37.3% compared against the industry’s rally of 59%.
Groupon’s Focus on Quality Inventory
Groupon has been overhauling its inventory and working on improving its merchant and customer experiences to drive growth.
The company believes that having a quality and always-available inventory will attract more consumers regularly. Notably, Groupon is now focussing on local experiences marketplace (includes Beauty & Wellness, Things to Do, and Dining). This market is estimated to be more than $1 trillion, per the company’s estimates.
To increase purchase frequency and gross billings, Groupon will have less restrictions on its deeply discounted deals and allow customers to buy such deals more than once. Also, it is planning to introduce new products with lower discounts to improve margins for merchants.
Apart from third-party merchant collaborations, Groupon expects its self-service API platform to help it attract more vendor partnerships and aid in building a portfolio of high-value inventory.
Also, as a part of its growth initiatives, Groupon is establishing strategic partnerships with the likes of CoreSource, ParkWhiz, American Express, and Major League Baseball to expand its reach and boost the top line. The company’s collaboration with Grubhub continues to enable customers to order food delivery from Grubhub’s vast network of restaurants via Groupon platform.
Zacks Rank & Other Key Picks
At present, Groupon sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks worth considering in the broader sector are
Long-term earnings growth rate for JD.com, Sprouts Farmers Market and At Home Group is currently pegged at 46.8%, 9.2%, and 38.8%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Groupon (GRPN) Inks Deal With Redzy to Boost Engagement
Groupon (GRPN - Free Report) recently brought on board bookings and distribution platform for tours, Redzy, as its first partner for Groupon Connect to bolster customer engagement on the platform. Shares of Groupon have increased 25.6% since the announcement of Redzy deal on Aug 18.
Groupon Connect is the company’s next-generation API (application programming interface) launched recently. It facilitates partners to join the marketplace relatively faster and seamlessly.
Redzy is a well-known software as a service (SaaS) booking and distribution platform for tours, attractions and activities based in Australia. It has a footprint in about 100 countries.
Groupon, Inc. Price and Consensus
Groupon, Inc. price-consensus-chart | Groupon, Inc. Quote
For Redzy, the deal will help all the operators connected to its platform to access Groupon’s 38 million customers, at a time when international travel has been severely impacted due to the coronavirus outbreak. Further, it will offer operators with an improved yield management and enable users to easily exchange their Groupons.
Meanwhile, for Groupon, this deal will increase high quality booking inventory and attract more users on its platform. Also, by bringing reputed partners
Groupon can enhance customer experience and decrease purchase friction.
Initiatives to boost user engagement are expected to instill investors’ optimism in the company’s stock in the days ahead. Notably, on a year-to-date basis, shares of Groupon have declined 37.3% compared against the industry’s rally of 59%.
Groupon’s Focus on Quality Inventory
Groupon has been overhauling its inventory and working on improving its merchant and customer experiences to drive growth.
The company believes that having a quality and always-available inventory will attract more consumers regularly. Notably, Groupon is now focussing on local experiences marketplace (includes Beauty & Wellness, Things to Do, and Dining). This market is estimated to be more than $1 trillion, per the company’s estimates.
To increase purchase frequency and gross billings, Groupon will have less restrictions on its deeply discounted deals and allow customers to buy such deals more than once. Also, it is planning to introduce new products with lower discounts to improve margins for merchants.
Apart from third-party merchant collaborations, Groupon expects its self-service API platform to help it attract more vendor partnerships and aid in building a portfolio of high-value inventory.
Also, as a part of its growth initiatives, Groupon is establishing strategic partnerships with the likes of CoreSource, ParkWhiz, American Express, and Major League Baseball to expand its reach and boost the top line. The company’s collaboration with Grubhub continues to enable customers to order food delivery from Grubhub’s vast network of restaurants via Groupon platform.
Zacks Rank & Other Key Picks
At present, Groupon sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks worth considering in the broader sector are
JD.com (JD - Free Report) , Sprouts Farmers Market (SFM - Free Report) and At Home Group , each flaunting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for JD.com, Sprouts Farmers Market and At Home Group is currently pegged at 46.8%, 9.2%, and 38.8%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>