As irony would have it, the exploding daily deal industry really isn’t about group purchases, at least not solely. When you get right down to it, small businesses are levelling the playing field with the new and powerful medium for getting the word out and going viral. Gone are the days of endless spending to create advertisements, and further bleeding of revenue through running the ads.
Daily deal sites typically run any given ad once per month, and the great part is that ads aren’t constrained to the online or mobile realms. In fact, massive revenues are coming in from television and radio as well. The battle is on for daily deal supremacy, and with companies trying all sorts of new tactics to get the attention of consumers, there’s no sign of things slowing down any time soon.
As long as the furious pace of competition continues to grow, shoppers everywhere stand to gain, but so do merchants, websites, and CEO’s. Companies from a multitude of industries are joining the fray, which begs the question: How will the daily deal industry affect the marketplace? Will it drive down prices, or force additional stores to shut their doors if and when the big boys in the game buy everyone else out?
One can’t help but wonder where the daily deal “fad” (in actuality, it appears to be anything but that) will lead us to as consumers. Much more time spent online might not be what society needs, but as inflation continues to rise, and prices follow suit, consumers will no doubt seek out the best deals available to stay afloat.
Like scientific experiments, where will these deals permeate? Plastic surgery? Adoption costs? How about blood or a half-off deal on your next surgical procedure?