Canada Goes Crazy For Group Buying-Daily Deals

Daily Deals through Group Buying has expanding so rapidly that it requires strategic attention. Both Groupon and Living Social have become two of the fastest  growing companies…EVER!. They have paved the way and opened the doors of opportunity for an entire industry to focus on local deals. What started with a handful of sites in 2009 has quickly grown to thousands of Group Buying sites worldwide. Thus, creating opportunities for entrepreneurs and marketing benefits for local retailers. In mid 2009 in Canada, there weren’t any Group Buying services available. Now there are over 100 and growing rapidly.

  • Local retail business owners can no longer ignore this medium as a viable way to promote their business.
  • Industry professionals should continue to learn from and share the interesting approaches that Group Buying services adopt.
  • The Investment community (VCs, Angels, Bankers, etc) should continue to invest in such services.
  • Executives of Group Buying sites should continue to innovate, should differentiate from the 500 pound gorillas in the industry.
  • Evaluating whether to adopt a Group Buying strategy? As with any strategy, research and insight are required.

In a short year, the industry has seen very large and popular businesses enter the market. Facebook, Yahoo, Yelp, Opentable, Yellow pages, Newspapers, and of course Google. In Canada, more and more media companies and those with large email databases are evaluating this strategy. Being competitive has become and will most certainly continue to be more difficult.

Research, evaluate, execute, adapt. Rinse & repeat.

We’ll do our part by researching, analyzing, providing consulting and recommendations to senior executives, business owners, industry & investment professionals on the group buying space in Canada.

Your thoughts?  Speak your mind.