Tuesday, June 21, 2011

Retweet: VillageVines is now Savored.com

At least a couple of times I have talked about Groupon and the trend towards social buying enterprises that assist publishers create their own deals feature, such as Group Commerce.

On the positive sign, I see Groupon's commitment to sales as a net positive (unlike companies that layoff sales reps when sales go down, how does that make sense?). On the negative side, I fail to see the barrier to entry that prevents other companies from effectively competing with Groupon (and others like Living Social).

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So this story by Tracy Duryee on All Things D really caught my attention because it reinforced my own conclusions (I would have skipped right by it if it had contradicted them, of course).

Duryee's story is about Savored.com, the reincarnation of VillageVines. The site is another group buying site but with quite a big difference.

Duryee and Savored.com's co-founder Ben McKean explain who it works:
Members who sign up for the service pay $10 to book a reservation at a restaurant and in return get 30 percent off their entire bill, including alcohol. The restaurant keeps all of the profits.
Simple. It works because if a restaurant doesn't have open seats it simply doesn't have to worry about people coming in with a coupon. In fact, there are no coupons involved at all.

Savored.com is live and offering deals in ten cities.

Now if you are a restaurant which system works best for you? I don't know, but I've signed up and we'll see if I end up using it more than Groupon (which I never use).

1 Comment:

Anonymous said...

Why anyone in their right mind would buy a Gannett newspaper anywhere is beyond me. While they still have a few quality newspapers, the bonuses and salaries paid to executives who have overseen this mess is absurd.