Find HUGE Local Deals with Groupon, LivingSocial, and HomeRun Shopping iPhone Apps

Why pay full price when exploring new venues in your city? Stephanie Chu and David Prager show you how to find steep discounts when dining, playing and relaxing with Groupon, LivingSocial and HomeRun. But are group coupons good for business?

Group coupons, more commonly known as "Groupons" have become the hot new way to discover new restaurants, spas, retail stores and more in your own city. Once a day, you can opt to buy an experience at a steep discount, sometimes up to 80 or 90 percent off. The more friends you pull into buying the groupon, the more fun and the more benefits you receive. While the coupons could only be found in large metropolitan cities in the past, most services and deals have spread to smaller cities, which is good news for suburbia.

When you use Groupon, LivingSocial or HomeRun, you pay for the savings up front and received a discounted bill when redeeming your voucher. All the apps are free and benefit the consumer, but is this marketing risk good for business (especially the mom and pop stores)?

Learn how to take advantage of using these local deals, and also share the details on how to be an upstanding Groupon customer.

Review by Stephanie Chu and David Prager