The daily deals concept is not new; ask anyone walking on the street and he will be able to tell what Groupon and LivingSocial are all about. Interestingly, the competition is not all about deals anymore; service providers are looking for new ways to generate revenues and keep the momentum of growth.
Groupon, the company that started it all, recently purchased Savored. Savored offers discounts to its users when reservations were made on a specified time. The New York based company has partnerships with major restaurants of the region. Other recent ventures of Groupon include Groupon Goods, Rewards and Groupon Payments. This shows that besides churning money from daily deals system, companies are also considering other sources of income.
LivingSocial is another firm that is experimenting with new service offerings. It recently disclosed that it is planning to assist small businesses with digital marketing, customer loyalty and point-of-sale operations. Hiring processes for the same has begun and it has been reported that a former PayPal executive will be running the show.
Interestingly, Groupon and LivingSocial are not the only two that are going ahead to explore new avenues. Numerous entrepreneurs are starting with group buying system that can make them unique in the market. With websites supported with powerful script and creative ideas, such new players are really making a difference in the market with their offerings.
Social media is another area where daily deals players strike the right chords. Facebook and Twitter are very much being used to promote deals and sharing amongst locales. Deals platforms are also playing crucial role in the same by offering the scope of easy sharing.
While this was all about companies that are operating on daily deals concept, contribution of web development firms that are providing Groupon clone packages to the budget clients is worth noticing. Prospects of daily deals entrepreneurs could become seriously limited if one doesn’t have a powerful script at hand. So, it can be said that developers of such scripts should be given credit of their hard work.
Groupon and LivingSocial are surely leading the diversification game in the market but startup firms are also not lagging behind. By bringing local twist to the daily deals ideas, startup entrepreneurs are also changing the rules. So, it can be concluded that there is plenty more to come in the daily deals game.
So, better keep your eyes open!
FATbit offers daily deals script to aspiring entrepreneurs to gain entry into deals market.