Posts tagged with Daily Deals Summit Europe

Bras and cupcakes: changing perceptions in the daily deals industry

The daily deals market has rapidly grown in the last three years, with market leader, Groupon, now present in 48 countries with an estimated 33m customers.

In late 2011, Groupon's IPO valuation was an estimated $12 billion. Despite this immense growth, the industry suffers from perception problems, with some even claiming the bubble has already burst.

However, the market is still relatively immature, and the industry faces many challenges before it establishes itself as a credible component of the marketing mix.

It was only a couple of weeks ago that Groupon was told to clean up its advertising practices by the OFT.

In particular, the industry needs to address its cases of failure head on and work with merchants to optimise the effectiveness of daily deals and prevent high-profile disasters (particularly those involving cupcakes).

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23% of LivingSocial's customers interact via mobile

Nearly a quarter of Living Social’s subscribers interact with the deals site via mobile (across both its apps and mobile site) according to the company’s UK MD Peter Briffet.

Speaking during a panel discussion at the Daily Deals Summit Europe, Briffet said that working out how to deliver better content through mobile channels was key to the industry’s future growth.

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Groupon claims daily deals are "virtually risk-free for merchants"

Groupon UK MD Roy Blanga this morning defended his company’s business model, stating that the deals were "virtually risk-free for merchants".

He said that daily deals sites provide a new source of inspiration for customers and help drive incremental sales.

During a speech at the Daily Deals Summit Europe, Blanga also claimed that it is a misconception that deal subscribers were all driven by discounts.

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