7 daily deal industry trends

RISE OF PRODUCT DEALSOne of the biggest trend hitting deal industry is the change in offerings

by market leaders from traditional deals like group buying to product

deals. This change can be found in the latest financial results published

by Groupon which states its goods division sold $1.137 billion last year,

up 150% compared with 2012.

Your customers are accessing your site and hearing about you from

different sources mobile, POS and so on; it has become essential that

your deal site should have an omni-channel presence and strategy. The

latest reports by comScore states that one third of the total purchases

from the top 10 e-tailers are through mobile. Also having a mobile app

should help you dodge the challenges offered by email filters in mail

clients like Gmail and you may use technologies like geo-fencing to

provide location based deals through push notifications.

CHANNEL STRATEGY

FOCUSING A GROUP OF CUSTOMERS

'PUSH TO PULL' BUSINESS MODEL

Even though technology has evolved, peoples basic urge to know about

new products or in common terms “tendency to window shop” haven’t

changed much. Deal sites have been utilizing this urge to entertain and

engage their customers, it is done by informing customers on deals

about new products and services. If you can do this regularly, you will

able to entertain your customers increase engagement with your site.

ENGAGE AND ENTERTAIN

SPEED DEPLOYMENT

Customers no longer wants to find products by themselves; as they get

along, they are expecting the website to show them products that they

want and sometime even surprise them. With quality analytics and

personalization tools you can increase customer engagement and

encourage repeated sales.

PERSONALIZE

DEAL INDUSTRY TRENDS THAT YOU DIDN’T KNOW!!!

Companies like Zulily, Fab and so on has already proven that focusing

all your efforts in a particular customer segment will help you know and

serve that segment a lot better than others. Being focused will earn you

loyal customers and increase repeated sales and with a little bit of

creativity like focusing niche segments, loyalty programs and so on you

can increase the cost to enter your market.

Deal websites like Zulily are measuring time in their own terms ‘Zuliliy

time’ to get things done far ahead of the normal time taken by others.

Being in an industry where everyone is waiting for an opportunity to

capitalize on it the strategies you formulate and the technology you use

should be flexible enough to provide you the freedom to implement

any change in the fastest time possible.

The industry is changing from its previous strategy of pushing its deals

to customers through mail and other channels to a more sustainable

Pull strategy. As the name sounds ‘Pull strategy’ works by attracting

customers to its site i.e. customers come to the site to search and find

the deals they need. This method has raised the importance of search

accuracy and mobile apps since both of these are essentials for pulling

or engaging the customers.

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