Business Trends: Deal-a-Day Websites
March 25, 2010In this economy, everyone is looking for a good deal. Andrew Mason combined his love for trying new places in his hometown of Chicago and getting a good deal and the result was Groupon, one of the fastest growing “Deal-a-Day” websites. It operates in 40 cities. The way it works is that you sign up for a deal on the website. If enough people sign out a coupon is mailed to all of the subscribers. The coupons range from 20-50% off. Groupon gets a finder’s fee of 30-50% of the total bill. It’s a win-win for all involved. Customers get to try new restaurants or visit new boutiques and the businesses get new customers. Mason plans to expand to 80 cities by the end of the year.
Other popular Deal-a-Day sites are Woot.com , 1SaleADay.com and GiltGroupe.com.