Online deal sites such as LivingSocial, Groupon, Facebook Deals, Google Offers and Coupons.com have become virally popular in the last couple years.
Historically speaking however, online deal sites have been around for more than a decade.
The increase in popularity is due to many factors such as an increase in internet penetration, increased consumer savings and more effective marketing techniques.
In order to better understand the future implications of online deal services, it is beneficial to look back at a historical timeline of online deals.
Online Deal Sites Timeline Highlights:
- Since its launch in 2009, LivingSocial’s user base has grown to over 26 million subscribers.
- 15% of unique visits to LivingSocial come from Facebook.
- Consumers saved approximately $500 million in 2009 from flash sales.
- Consumers saves over $1 billion per year in savings from Coupons.com.
- By 2014 the worldwide opportunity for private sales and local deals together will be $40 billion.