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About Group Buying (Local Deal) Websites
Group Buying websites, also called “daily deal” or “local deal” websites are online portals that connect local businesses offering discounted products and services with local consumers looking for great offers. Most Group Buying websites offer advertising opportunities for a wide range of local merchants, including restaurants, entertainment venues, salons, gyms, and other local services and retail establishments. Group Buying websites can present an excellent opportunity for local businesses to reach a large number of local customers and potentially increase their customer base by offering a great one-time deal. Typically, Local Deal platforms do not charge up front for merchants to advertise their deals. Instead, pricing is based on a revenue share model, in which 50% is the industry standard. While Group Buying portals can be a very effective channel for local business to attract a high volume of new customers, the high revenue share on top of already deeply discounted deals can make this type of advertising difficult to turn a profit on. Business owners that use this method of advertising should to be prepared for a high influx of customers, an initial profit loss, and should have a strong customer retention plan in place to help recover the initial expenses. Since the initial success of the Group Buying trail blazers Groupon and Living Social, several other major players have entered the Group Buying and Local Deal market, including Amazon (Amazon Local), Google (Google Offers), and Yelp (Yelp Deals). Countless other local Group Buying and Local Deal websites have also entered this emerging market. Listed below for user reviews and comparison are the Current TOP Group Buying Websites for Merchants to advertise local deals on.
See also: Group Buying Wikipedia Description or Deal of the day Wikipedia Description
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