Groupon is sinking its teeth into the restaurant industry with its recent acquisition of Savored, which is a platform that enables diners to make free online reservations and pay lower prices at restaurants across the United States.
After booking a reservation with Savored and visiting the restaurant, diners receive up to a 40 percent discount applied automatically to their bill. However, the service is also beneficial to merchants, because they are provided with increased revenue for tables that would otherwise be empty. To date, more than 1,000 restaurants nationwide have used Savored’s platform for yield management.
“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now!,” said Dan Roarty, VP of Groupon Now. “We look forward to working together to achieve a common goal - making dining out even more fun and affordable for consumers while helping restaurateurs manage inventory and grow their businesses.”
Although the terms of the deal were not disclosed, it is important to note that Savored is currently continuing its service for diners and restaurants, and interested merchants can learn more about participating in Savored’s free 30-day trial here.