You might have heard of the Amazon.com deal on Livingsocial and the Gap deal on Groupon.
Both of these deals made the big headlines and with good reason. Back in August 19 , 2010, by day’s end, 441,000 Groupons of the GAP deal were sold, bringing in a little more than $11 million. Groupon usually splits the revenue with partners, but declined to disclose its share.
However, there’s another company that is making good use of the group buying industry. Keeping under the radar, Fandango has been dishing out deal after deal through group buying websites. Here’s how Fandango does it.
Group buying is a trend that had incredibly growth throughout 2010. Group buying, which refers to social buying or collective buying as well, is the buying an offer which has been significantly reduced, due to the fact that it is only valid if enough buyers are found.
From the graph above, you can take a look at the number of monthly unique visitors from the top 2 group buying websites in North America: LivingSocial, and Groupon. As you can see, another player in the group buying industry, Tippr, does not even come close to the number of monthly unique visitors from LivingSocial and Groupon throughout the period April to December 2010. Here is a short review of these 2 key players in the online group buying industry.
Continue reading “Review of the Online Group Buying Industry”
Mashable reported than more than 230,000 vouchers were purchased two hours after the offer had gone live. As of 16:32 HST, a total of 1,084,998 gift cards have been sold.
That’s almost $11 million in gross sales for the Washington, D.C. based startup. About a month ago Amazon.com invested $175 million into LivingSocial, it appears as it made a smart investment.
Get your Amazon.com gift card today. you still have about 10 hours (as of 16:35 HST).
UPDATE (01/20/11): LivingSocial sold a total of 1,301,296 Amazon gift cards. $13,012,960 in gross sales for one day’s work is not bad at all.