Groupon is rolling out a membership program that it hopes will keep customers coming back more frequently and spending more while they shop.
Groupon announced Tuesday that it launched Groupon Select, a $5 per month membership program that gives Groupon customers extra discounts and free shipping. Groupon Select members get discounts on Groupon's local services, experiences, travel and goods.
The company began quietly rolling out the program last year and says it already has 150,000 members. Spokesman Nicholas Halliwell said Select has resulted in increased customer purchase frequency and higher average order value.
Specific Groupon Select discounts include: 25% off local (like activities, restaurants and spas), 15% off goods, 10% off travel, and 10% of event tickets. And later this quarter, Groupon plans to offer Select members 25% off movie tickets via its partnership with AMC Theatres.
"Groupon Select is the best way to experience Groupon today and discover even more value on local services, experiences and goods. It accelerates the savings we’re known for and makes Groupon an even bigger part of members’ daily routines," Groupon CEO Rich Williams said in a statement.
Groupon is currently only offering Select to U.S. customers, but it plans to eventually roll the program out internationally.
Groupon's stock was down more than 3% Wednesday afternoon, and is down almost 15% for the year.
