Groupon, Inc. (NASDAQ:GRPN) Q2 2023 Earnings Call Transcript

Dusan Senkypl: Okay. Thanks. Thanks for questions. A lot of them on the, so I hope I remember all parts of that. First of all, we had internal discussion about low hanging fruits and one of my fellow colleagues mentioned that the low hanging fruits in our case is like low hanging berries. So I really don’t see one or two or three big items which we can just change and the company will be like flying. We are touching pretty much every part of the organization, pretty much every process inside the organization. As you saw in the presentation, we have fairly big senior management team built and like every single member of the team is really rebuilding the organization part where they are managing. So that’s on that part. In terms of the value proposition and how we see it going forward, what we need to change, like one of the projects which we started this quarter is experimenting with new rate cards, making it much easier to onboard on Groupon, make our, let’s say, fee structure more comparable with our marketplace, which are available on the internet.

So that’s a major part which we will be continuing down the road. And in terms of like promotion and structure and how the deals will be different in the future, we believe that going forward as we will be decreasing the promotional spend, increasing quality of deals, we will be simply able to sell more deals, services on our website with slightly higher discount compared to list price, which will make whole business case much more viable for merchants. And having the quality deals, it will mean that also the value proposition for customers will be same or much, actually not same in my opinion, it will be much better than what we have right now.

Eric Sheridan: Thank you.

Operator: We have no further questions in queue. I’d like to turn the call back over to Dushan for any closing remarks.

Dusan Senkypl: Okay, thank you. So thank you everyone for joining. We look forward to continuing to update you in our future conversations. And as always, if you have any questions, feel free to go to our investor relations team. Have a good evening.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.