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Groupon Sells £500,000 Worth of Marks & Spencer’s vouchers in 24 hours

marks-spencer-retailer-groupon-daily-dealDaily Deal site Groupon had to close down their offer on one Britain’s major multinational retailer chain that offered a £10 M&S gift card to users for a payment of just £5.  Over 100,000 vouchers for the retailer chain were sold within 24 hours.

The gift card will allow bargain seekers to purchase £10 worth of M&S food, clothing or home products. The retailer is headquartered in the City of Westminster, London, with 703 stores in the United Kingdom and 361 stores spread across more than 40 countries. It specializes in the selling of clothing and luxury food products. M&S was founded in 1884 by Michael Marks and Thomas Spencer in Leeds.

Groupon said that it had sold out of the gift cards after clearing the 100,000 barrier. The promotion had initially been scheduled to run for two days until Saturday afternoon.

Accoridng to recent reports, a spokesperson for M&S said Groupon decided the structure of the promotion after buying the gift cards from M&S. It is understood that Groupon paid around £9 for each £10 voucher, although Groupon and M&S declined to share exact details.

A spokesperson for Groupon said that the company saw the promotion as a “great success”. They added: “Our mission is to deliver the best deals for the things our customers want, I dare say there will be a few people getting BBQs planned this weekend now.”

Source: Telegraph

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