The folks at Mashable have gotten their hands on a "confidential fact sheet straight from the Googleplex" which describes a new Google product: Google Offers. It appears to be a group buying service similar to Groupon and LivingSocial.
The documents discovered by Mashable explain the basic idea behind the service: Customers receive an email describing a local deal and are given the chance to buy that deal within a certain timeframe. Assuming enough people buy the deal, the offer is triggered.
Of course Google hasn't made any official announcements regarding this service just yet, so no need to freak out about all those future shopping sprees already. [Mashable]