Holiday Daily Deals Could Hit $100 Million: Survey Says
Although a recent survey found that a whopping 70 percent of small-business owners hate Groupon, consumers still are big fans. So businesses that aren't offering daily deals on websites like Groupon or LivingSocial during the holiday shopping season may want to reconsider.
Just how big is the market? Daily deal aggregator Yipit reports that U.S. consumers will likely spend between $80 million and $100 million on daily-deal gifts between Thanksgiving and Christmas. That’s an astounding increase from the $15 million to $20 million spent in the same period last year.
Why it matters to your business: If you haven’t experimented with daily deals yet, this might be a good time to try it -- just make sure your business can handle the influx of customers a deal can bring, and that you make enough profit on the deal to make it worthwhile. When crafting your deal, keep this in mind: Yipit says this year daily-deal companies are promoting experiences -- not just products -- by offering deals on luxury trips, wine tastings and helicopter outings. If there is any way you can turn what you sell into an "experience," you’ll be ahead of the game.
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The Huffington Post Rieva Lesonsky First Posted: 12/04/11 12:21 PM ET Updated: 12/04/11 12:25 PM ET