GiltCity Coupon Holders

posted Jun 21, 2011, 9:03 AM by christy bergman   [ updated Jul 24, 2011, 10:46 AM ]
Dear GiltCity Coupon holders for the Secret Wine Shop,

Please be sure to call/email me to schedule your tasting before it "expires"!  Click "contact us" on the left menu of this page & let me know your info.

Thanks,
Christy @ thesecretwineshop

P.S.
If your coupon has already expired, according to CA law, gift certificates that are paid for in cash do not expire!  http://www.dca.ca.gov/publications/legal_guides/s-11.shtml

If you're holding an expired Gilt City coupon, you have 2 options:
1) ask for face-value refund of your gift certificate, they have to give you your money back!
2) use the expired certificate.  Once you book with me, give me the certificate #, I will try to get paid & give you your deal (merchants only get paid by proving they've fulfilled orders by giving these coupon # back to Gilt City).  So far, I've been able to honor expired certificates without a problem.


--- a look at the prepaid coupon market from the perspective of a small business ----

What people don't realize with prepaid coupons is the industry term "breakage" - the # of unused coupons. For GiltCity (and apparently some Groupons), the merchant doesn't get paid unless they can prove they fulfilled your order. So if you don't use your certificate, you aren't supporting your local merchant, you're only giving money to the coupon site itself.

"Industry experts" claim unused breakage rates are only 10-20%. 
I personally saw 50% redemption rate. 

Yipit, see slide #7: http://blog.yipit.com/2010/08/19/slides-the-explosion-of-group-buying/
SmartySave:  http://www.prweb.com/releases/smartysaver/secondchance/prweb8576864.htm

Small businesses you have to count "breakage" into your coupon calculations, and the data is murky at best.



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