Groupon has undoubtedly become very successful. The simple idea of purchasing coupons via your phone or computer and using them in stores....quick and easy! Foursquare is an application for mobile phones where you can "check-in" at a business. It posts back to your profile letting everyone know what you are up to. Another quick and easy way to update your profile.
The best of both worlds will be launching on Facebook soon and this new means of social communication is very intriguing. Not only can you check-in at a business, but you will be able to purchase deals and coupons that the company is offering. (Facebook already launched Places that allows you to check in and you can redeem a coupon the business offered..this is an expansion on that test) Groupon has proven to be successful and people are willing to purchase coupons on their phones/tablets/etc. The largest social media site will use this trend when it tries to launch its coupon service. It makes sense because everyone is already using Facebook daily, why not have a one-sto-shop for checkins, coupons, and social interaction.
What does it mean for businesses? A better way to market your business and get people buying. Low-cost means of advertising AND selling product...all via the web. I think you will see a little better return on investment (ROI). For individuals, you will see coupons and exciting deals you may not normally find out about. Most importantly, you will find the deals at the places you love most.