Roughly 30 percent of vouchers purchased on daily deals websites go unused, co-founder of CouponTrade.com says.
Are you suffering from buyer’s remorse? Can’t pass up those daily deals piling up in your in box? If those impulse buys are sitting there unused and burning a hole in your wallet, what kind of savings is that?
That's why two Chicago entrepreneurs launched a solution: Coupontrade.com.
Founders George Bousis, who managed one of his family's Cermak Fresh Market grocery stores, and Bradly Wasz, a former trader at the Chicago Mercantile Exchange, now tout themselves as brokers for unused daily deals as well as gift cards.
Their fee: 10 percent from the sellers.
"Customers are buying these deals that they are not even using," said Bousis.
Wasz explained that sometimes people from the city may find a hot deal but don’t realize that to redeem it they have to drive an hour away to the suburbs.
"So, these deals are going un-redeemed," he said.
Another problem: buyers not reading the fine print. For example, one Groupon deal offered a $36 visit for just $12. The catch: it was only redeemable on Wednesday's during the summer.
Coupontrade said most of its customers save 50 percent. But Coupontrade said some customers even make money re-selling hot deals that sell out quickly
The deals on Coupontrade are sorted by expiration dates and you can sign up for alerts to retailers you want.
It launched this spring and has already quadrupled its staff to handle the volume.