Groupon Plans to Stop Selling Physical Goods
Groupon (NASDAQ: GRPN) plans to return to its roots as a website that sells local deals. This decision was reached after the company has posted several disappointing quarters including its most recent one -- where revenue dropped by 23%.
The app/website had been selling a mix of experiences and physical goods at deep discounts. Selling goods required warehousing, shipping, and other expenses while selling experiences can all be done digitally.
Source Fool.com