Wednesday, 22 February 2012

Daily Deals – The Stark Realities

Fat discounts, great offers and lip smacking deals.....living social deals, yes they are!

Who wouldn’t want to try hands at something that saves wallet nagging? Hmm? Daily deals are a rage as much as Facebook is a youth icon. Oh come on, don’t tell me you haven’t heard of Snap deals and the like? Groupon is the creator of several daily deal clones and it’s still an early sector. Groupon is the trailblazer of the league, so it’s a given it indeed holds all the cards of the game. Although it has exploded as an industry that talks smiling dollars, however, many frown on its sustenance as well. There have been several Groupon clone scripts that spurred the market off late too, and in dozens. While it looks all hearty, there’s also some dull vibes doing the rounds. They say get hold of these deals before they slip off soon! Now that’s some news! Are Groupon and related sites going to diminish soon? Well, who knows? But shifting ecology hints so...let’s wait for the time to reveal. Eh?

In the interim, let’s also share some more truth related to Groupon and other living social deals, all ears?

* It seems exciting on the surface, but a surprising truth for the merchandisers who are aspiring Groupon clone company owners is that you must sell at least one deal a day for the entire year to survive with your venture and sustain the competition. And trust us, on one hand where it’s like stardom money, on the other hand, it’s quite a task to crack a deal when there’s so much on the offer and run.

* Work towards getting repeat customers to make yourself stay in the race. Else you wouldn’t realize before you perish! You must give reasons for your customers to come back to you again. If they don’t find a good enough offer to turn back to you, you might just be losing out on some good business. If you are wisely wicked, you might offer something like (great value spa treatment + 20% off any products purchased that day)

* Competition minus loyalty... that’s the world of Group buying system. You have to keep maintaining your wits and deals absolutely intriguing to make customers ‘buy now’ from you. There are often the same deals at several places so you must be unique enough to make people subscribe to your deals. Fair enough? Phew...

* Some great news.... sources say ‘Overall, Groupon spent $378.7 million in marketing initiatives in the first half of 2011, up from $35.5 million in the same period a year earlier, according to regulatory filings. Many smaller websites don't have the war chest to compete’. Now that sends out some grins out there.

* Now an inside story...there are several buyers who would never bother to redeem their voucher owing to multiple reasons. So basically they leave you with some drool that you eventually take in. Do you have any option?

Whether it’s worth it or not, depends absolutely on how you look at the entire daily deals space as a business opportunity. We hope you found some fascinating facts out here. We will see you again! Stay tuned for more updates!

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