Groupon went national for a day and sold 441,000 gift vouchers in a day. Thats a record for a relatively new company.
Groupon is an intermediary between retailers and consumers. It lists one deal everyday on its site. The deals are generally highly discounted, so consumers benefit. For retailers its brand equity and they don't loose out too, since they only execute the deal if they get an "X" number of sales.
The speciality of groupon is it is city based, so if you are in Burbank area, you get deals in Burbank.
This business proposition is good for anyone in a country where such businesses don't exist.