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Groupon ads questioned

Oct 17 2012 11:11

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Fin24 user Phil Dee writes:

At today's current gold price, U$ 1 737.25 per ounce, Groupon is advertising 10g, 50g and 100g gold bars with an up to 70% discount... Were this true, I'd be at the front of the que (sic) to buy as much as I could afford... An instant 70% R.O.I. is not attained so easily on a daily basis ;-)

10g = 0.3527396 oz = U$ 612.80 @ 8.81:1 - R 5 398.77
Price offered by Groupon: R6 500
50g = 1.763698 oz = U$ 3 063.98 @ 8.81:1 - R 26 993.66
Price offered by Groupon R 35 000
100g = 3.527396 oz = U$ 6 127.97 @ 8.81:1 - R 53 987.42
Price offered by Groupon R 65 000

Does this obvious blunder mean Groupon does not research the products they sell?

How many more deals are in actual fact ripping people off?

Groupon South African responds:

We apologise for the misunderstandings regarding the discount amount.

In this particular incident, it was noted that Groupon was not selling gold by the ounce, Groupon was selling gold by the bar at the same price as the partner. Therefore the discount offering was not significant enough for our platform.

Groupon is always striving to source and create the best optional deals for both our customers and for our partners. In this regard, Groupon is no longer running this deal.

Please direct any further queries to our customer service department support@groupon.co.za or on 0212017100 should you require any assistance with this deal.

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groupon  |  gold  |  myfin24
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