Groupon's MINDBODY Alliance To Boost North America Presence

Groupon (NASDAQ:GRPN) raised the bar of its marketplace platform with the recent extended alliance with MINDBODY.

The collaboration provides Groupon’s users with more options pertaining to wellness, fitness and beauty across local communities. This is expected to aid Groupon in strengthening presence in North America.

Notably, San Luis Obispo, CA-based MINDBODY offers SaaS-based platform to transform wellness industry by connecting marketplace with beauty, wellness and health professionals.

Groupon is leaving no stone unturned to make website consumer friendly with more voucher less and real-time bookable utility deals. The latest deal underscores the company’s focus to fortify its marketplace with experience-based lucrative local deals.

Local businesses can expand their businesses by utilizing MINDBODY’s payments and software platform, while consumers can leverage the platform to enhance wellness, fitness and beauty regimen.

Notably, the inventory partnership is slated to go live in early 2020, while the scheduling partnership between Groupon and MINDBODY is live and scaling.

Efforts to Strengthen Marketplace Bode Well

Groupon’s voucherless strategy intends to provide customers with enhanced experience and increased conversion across the United States. The company is also focused on initiatives to bolster card linked offers, and improve mobile experience and real-time bookability.

In this regard, partnerships with GasBuddy, Prodege and DerbySoft, in the recent past, remain noteworthy.

The daily deals website company has also acquired Presence AI to gain AI-driven voice and text communications tool capabilities. These initiatives are aiding Groupon to enhance product features with new functionalities and enrich user experience.

Moreover, Groupon introduced Groupon Select membership program, for a monthly subscription of $4.99, to bolster user engagement and generate repeat purchases by attracting customers with extra savings and other perks.

Additionally, partnerships with Grubhub (NYSE:GRUB) , ParkWhiz, among others, and ongoing brand awareness programs are expected revive the declining active customers count, thereby favoring growth prospects.

Notably, as of Jun 30, 2019, the company had approximately 28.6 million active customers based in North America compared with 29.6 million at the end of the previous quarter.

Zacks Rank & Key Picks

Groupon carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the same industry are Stamps.com Inc. (NASDAQ:STMP) and Booking Holdings Inc. (NASDAQ:BKNG) . Stamps.com flaunts a Zacks Rank #1 (Strong Buy), while Booking Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for Stamps.com and Booking Holdings is pegged at 15% and 13.08%, respectively.

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