SOURCE: Local Offer Network
March 22, 2011 10:00 ET
Local Offer Network Unveils First Report on the State of the Local and Group Buying Deals Market
Comprehensive Study is Based on the Collection and Analysis of More Than 90,000 Deals and Actual Purchase Activity of US Consumers
CHICAGO, IL--(Marketwire - March 22, 2011) - Local Offer Network, a leading provider of technology and services to the fast-growing market for group buying services, today released a landmark study of the group buying and daily deals market. The report sheds new light on important trends and developments in the exploding deals market and provides insight on how the market will evolve in the coming year.
"The Daily Deal Phenomenon: A Year in Review" focuses on the US group buying market, and reports key findings and projections including:
- The group buying industry will expand by 138% to $2.66B in 2011.
- More than 63,000 deals were published in 2010, and more than 39,000 will be published by the end of the first quarter of 2011 alone.
- A wider variety of merchants and new entrants from luxury and higher-priced product categories are moving average transaction values considerably higher.
- While dining, spa and health-related deals still abound, Local Offer Network has monitored dramatic growth in segments such as apparel and home products.
- Geographic expansion has been a major growth driver, with deal sites now in 80 markets across the country compared to just 48 in Q1 2010.
The report incorporates analysis and projections based upon a database of more than 90,000 offers collected and classified by Local Offer Network from January 2010 through March 2011. Results also include actual consumer purchases driven by a broad range of Local Offer Network partner sites and Dealradar.com™, the company's direct-to-consumer deal resource.
"Insatiable consumer demand is fueling a staggering volume of deal services and offers, with major implications for businesses and the financial markets," said Dan Hess, CEO of Local Offer Network. "Yet until now, there has been little objective analysis of market trends and expectations. Our report answers many burning questions about this complex ecosystem, and how we can expect the daily deal phenomenon to impact consumers and businesses alike."
Launched in the first quarter of 2010, the Local Offer Network Deal Engine™ aggregates more than 2,000 group buying offers daily from websites in 97 markets worldwide. Local Offer Network has forged relationships with these sites to help them achieve instant scale through distribution partners, which reach millions of consumers each month. Dealradar.com, Local Offer Network's direct-to-consumer site, continues to serve as a trusted resource that provides consumers with one-stop shopping for all the best deals in the cities they live in and visit.
To request a copy of the complete report, "The Daily Deal Phenomenon: A Year in Review," please contact firstname.lastname@example.org.
About Local Offer Network:
Local Offer Network (LON) creates new competitive advantages in the fast-growing group buying market. LON products and services include a web-wide distribution network that allows publishers to tap new revenue streams, and group buying sites to achieve instant audience scale; VoucherPro™, an offer creation platform that enables the rapid creation of new daily deal advertising products; and Dealradar.com, a convenient deal-shopping tool for consumers in 97 markets in four countries.