In the months of May and June, shares of Groupon (NASDAQ: GRPN) have returned to over 73% to investors.
In the months of May and June, shares of Groupon (NASDAQ: GRPN) have returned over 73% to investors. These are encouraging signs of a recovery for this major player in the e-commerce industry, which has recently revealed its transformation plan to revamp Groupon and reposition it for future expansion.
According to Groupon's first quarter 2023 financial results, it will have saved
The second stage of
The Company also intends to carry out additional non-payroll actions outlined in the 2022 Cost Savings Plan, such as lowering costs associated with professional services, technology, and software. Additional annualized cost savings of
Groupon has approximately 20 million customers. More than 15 million of these users have been on the platform for five years or longer. The majority of users are active buyers and sellers on the platform. Sometime back,
By putting more of an emphasis on lower funnel performance channels and switching from incrementality to ROI targets in Q1, Groupon increased the effectiveness of its marketing expenditure. This led to advances in efficiency, particularly in search engine marketing, and a decrease in marketing expenditure as a percentage of gross earnings. Before shifting back to mid- and upper-funnel channels, Groupon is now concentrating on increasing returns in performance channels.
Groupon thus continues to move towards its vision to create a marketplace where customers can purchase goods and services that add value to life and make it more interesting.
Etsy is currently trading at
Groupon shows signs of its ability to bounce back by the end of 2023, which makes it worthwhile to keep an eye on its movements.
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