Retail
Starbucks, Living Social Join Up for Gift Card Offer (SBUX, GRPN, GOOG)
Published:
Last Updated:
The world’s largest coffee store chain, Starbucks Inc. (NASDAQ: SBUX) will offer customers a $10 store gift card for $5 through daily-deal company Living Social, a competitor to Groupon Inc. (NASDAQ: GRPN). Starbucks made a similar offer to customers through Google Inc.’s (NASDAQ: GOOG) Google Offers earlier this year.
One of the knocks on Groupon both before and after its IPO was that there was a low barrier to entry for competing daily-deal offers. Groupon’s stock posted a new 52-week low today of $4.00 before gaining some of it back.
Starbucks’ chief digital officer had this to say about the deal with Living Social:
It’s an evolving space. The type of deal, the type of merchant and the implementation of offers are going to be different from circumstance to circumstance.
Starbucks and Living Social expect to sell 1 million of the half-price gift cards.
Starbucks shares are up 0.2% in after-hours trading today, at $48.62 after closing the regular session down 0.2%. The stock’s 52-week range is $35.12 to $62.00.
Paul Ausick
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.