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The goods on Groupon: $2 million of flash sales in one week, one analyst says
The new Groupon Goods offers limited times sales of products from other retailers.
In its first week as a flash-sale marketer of physical goods, Groupon Inc. appears to have sold slightly more than $2 million worth of goods, says Scot Wingo, CEO of e-commerce services provider ChannelAdvisor Corp.
Groupon offered no immediate response to Wingo’s estimate. Groupon does show how many of each offer have been sold and at what price on Groupon.com during the items’ sale periods; Wingo used such figures to craft his estimate.
The first Groupon Goods sale started Sept. 28 and was valid for about two days. The merchandise sold via Groupon Goods come from a mix of national and local merchants. The first week featured five products for sale. Groupon Goods sold 28,000 iPod docking stations for $40 each, which accounted for more than $1 million in sales. Groupon sold out of the docking stations before the sale was up, which Wingo says implies Groupon could have sold more. “What if there had been 48,000 available? Would they have hit $2 million in that deal alone?” he writes in a blog.
Products offered for sale in the service’s first week ranged in price from $40 for the docking station to $440 for a Panasonic TV, which sold 490 units during the sale period. Based on the number of units sold, Wingo says the total average sale price for Groupon Goods’ sales in week one was $56.
It appears that Groupon is not sending its weekly Groupon Goods e-mail offers to its entire e-mail distribution list, although it does appear to send slightly different offers to consumers based on gender, Wingo says.
Groupon sent its second round of Groupon Goods’ offers shortly after noon yesterday. The e-mails sent to men included four offers, whereas e-mails sent to women included six, Wingo says. Deals available in both versions of the e-mail include a digital camera, a guitar and accessories pack, an alarm clock, and soapstone rocks called whiskey stones that are designed to chill drinks without watering them down. Groupon sold out of the 4,700 available whiskey stone units by 3:15 p.m. A two-pack of foldable flat shoes offered in the e-mail sent to women sold out by 8:30 p.m., with 1,800 units sold, according to details that appear on the offer page on Groupon.com.