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.

Groupon has struggled to stay relevant. Image source: Getty Images.

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Source Fool.com