The daily deal industry in North America is taking a whack at different ideas to extend the outreach of deals of the day to the un-served online shoppers.
While Toronto-based Dealfind is tinkering with the redemption procedure, others are testing a flurry of uniquely sounded brands to attract customers. Of course, the purpose is to promote discounted retails.
Of late, Dealfind allowed coupon clippers to redeem coupons then and there and need not to anxiously wait for days or weeks to get the value of money back under its new GrouponNow-type brand ‘Everyday Deals’. The daily deal site is said to have saved consumers $400 million through more than 1.7 million coupons since its inception in 2009.
Other enterprising daily deal companies are enriching the buying experience of customers by providing them with innovative means such as Android and iPhone apps to browse through best deals in nearby location.
The modernization has reached to an extent that a deal a day is now beeped on the screen of smartphone when a customer nears a point of sale. All developments ensure that customers could not miss out on chances of grabbing daily deals.
A monthly review is not an appropriate indication of trend in the industry especially daily deal industry that undergoes overnight changes and is unpredictable in marketing perspective therefore.
However, a month report is good to determine the temporary direction of the discount market and where the weight is tilted.
In this relation, Yipit’s monthly report is known as an authentic source of insights into the group buying industry.
According to its latest report, daily deal sites have increased volume of daily deals in October.
The numbers of daily deals skyrocketed in October, though revenue has seen insignificant growth. According to Yipit’s monthly report, North American deal industry has published 39,434 deals in October, indicating a surge of 18 per cent over September. It generated $267 million revenue in October. It was similar to last month’s gross billings.
Except LivingSocial, all top group buying sites witnessed growth in gross billings, as per the report. In comparison to its September revenue of $144 million, Groupon managed to attain an upswing of two per cent to $147 million in October. Travel deals remained the driver of growth in revenue of the industry No.1. The company listed 181 Getaways in the month under review.
AmazonLocal, which is still at its budding stage, witnessed a 56 per cent increase in gross billings to $6.2 million. Another new launch GoogleOffers saw a 60 per cent rise to $1.4 million in revenue.
On the other hand, LivingSocial has faced correction in its top line despite that its travel brand Escapes enjoyed a 100 per cent growth in its gross billings. The company’s revenue slid eight per cent to $54.9 billion in October from $60 million a month back.
There are not less than 700 daily deal sites operating in the region. Evidently, major chunks of sales i.e. 75 per cent from hot deals are bagged by duo industry’s giants. Subsequently, they are the powerhouse of trailblazing innovations that have proved commercially viable as well as buyer-friendly.