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Three 'Daily Deal' Websites Offer Screaming Bargains Print E-mail
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Shopping - Online
Written by livecheap staff   
Tuesday, 15 June 2010 03:33

If there is one thing thing we've come to expect, it's the constant evolution in the way products and services are marketed online. Many Savvy consumers are quite familiar with discount travel websites like Hotwire and PriceLine. By now, eBay is a household name and even coupon sites like RetailMeNot have established brand name status. Many of these sites have been around for a number of years and their business models are true, tried, tested and widely imitated .

There is a new wave of up and comers with new creative business models that deserve your attention. If you want to save a bundle, you might want to check out this latest trend in online retailing.  These sites operate on a very simple concept - offer deals that are valid for twenty-four hours. You snooze - you lose. Because they only offer a few items, they tend to have  very basic easy-to-navigate websites. Here's 3 worth considering if you want to check out this newest trend and score some super cheap deals.

Groupon:

Groupon is short for Group - Coupon. The idea behind Groupon is a single offer each day in each locale at a heavily discounted price. The deal is offered at a 40% to 70% discount from the retail rate provided that enough people signup to "tip" the offer. In 98% of cases, enough people subscribe to the offer that it gets tipped. Groupon has sold over 6 million coupons and if you like spa treatments, yoga, pilates or restaurants, there are some good deals.

A couple things to note. If you are getting a spa package, you need to be aware of how long it will take to book your appointment. 1,000 customers coming in at half rate for a spa with half a dozen rooms takes a long time to process and they may only reserve a few spots each day for the Groupon Groupies. If you are looking to get in the following week, think twice before signing up. Second, oftentimes the same retailers will have coupons or discounts anyways although they may not be for the same price. In most cases, businesses are looking to get new clientele and might have their own "new client" deals, but generally Groupon deals are better.

Living Social:

In many ways, Living Social is similar to Groupon except they have an interesting difference: If you sign up for a deal and then get three of your friends to do the same, the deal is free for you. Not a bad perk especially if you are a sociable person with lots of friends. The deals are very similar to Groupon: spas, yoga, restaurants, and fun activities that you probably would skip in the Great Recession. We have both Groupon and LivingSocial in Los Angeles and they seem to have very similar offerings. Overall, the discounts are about the same but given that both Groupon and Living Social only have a deal a day, there are plenty of merchants to go between the two of them (and their 10 smaller competitors).

 

Woot.com

Woot is a website that sells one item each day at a discounted price until it either sells out or the day is done. For example, today, there is a Vornado V6 Personal fan - Two Pack for the low, low price of $14.99 plus $5 shipping. Is it a deal? Absolutely. Amazon retails each fan for $24.99 with free shipping. Two fans at Amazon would cost you $50 more than twice the price of the Woot deal. Why so cheap? Well manufacturers often want to close out product lines and don't want to mark them down through traditional channels. Sites like Woot negotiate huge volume purchases and then are able to liquidate them to deal hungry customers. Tuesday is also 2 for 1 Tuesday at Woot, hence the amazing deal. You'll also find the product writeups to be pretty funny.

Of course, if you are tempted to buy stuff that you don't really need just because it has a low price, you might want to avoid Woot. If there are any complaints about Woot, they center around delivery times and issues with refurbished products.

 

These three sites show you that during the Great Recession, consumers have the upper hand and amazingly, it doesn't take a complex business model to make a good business.

Have any experience with our 3 websites or have your own daily deal source? Let us know in the comments.

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Michelle  - You Missed one! |2011-08-03 16:32:08
I personally use dealgrind.com. I love it they offer fun and amazing things to do all through out California.
Eugene  - You forgot LiveCheapr.com Daily Deals |2011-06-15 22:03:28
You forgot LiveCheapr.com Chicago Daily Deals.
Jon  - The Foundary: Earn Up to $50 in Credits just for I |2010-11-03 07:34:22
Just wanted to share this with people having trouble with all these sites... I was able to get some good deals at a site called The Foundary. From what I saw, they have some pretty good deals on stuff for the home, usually marked down pretty heavily (sometimes up to 70% off retail). Plus, by inviting your friends you can earn credits that can be used on the item itself, shipping, and even taxes! You can get to the site by going here: http://bit.ly/thefoundary
Kelley  - Another site to add to Daily Deals article |2010-07-27 15:43:10
I use MyPoints whenever I shop (and Ebates, too, if MyPoints does not use the retailer I'm wishing to purchase from.) MyPoints also has a Daily Deals alert that you may wicsh to check out.
DailyDealWebsites  - Some more sites... |2010-06-17 04:10:12
Nice post. We've actually got a directory of these sites going over at http://www.dailydealwebsites.com
Sandra D.  - Woot! |2010-06-15 03:50:43
Too funny, before reading this article I just purchased TWO, (read that FOUR) of those Vornado fans! I have gotten some great deals from Woot! and never been disappointed, including this lap top with which I connect to Live Cheap. A couple things to remember:

~ Be careful, it's tempting to make purchases you don't need when the deal is really good, be sure it's what you want.

~ Consider the Square Trade warranty for big ticket items.

~ Read comments & reviews, they can be very enlightening and sometimes as funny as the write ups Woot! does.

~ Watch for the Woot Off! the last week of the month; items are sold out and a new one added immediately, you don't have to wait until midnight for the next item. This is like a Woot! clearance sale.

Thanks live cheap for the unintended support of my purchase! ;)
Omiewon |2010-06-15 12:34:59
Those fans are a pretty good deal! Thanks for all the detail from an experienced Wooter!
frugal nomad  - About those extra fans |2010-06-15 12:38:53
We knew we forgot to put a word of caution in the article. So thanks for saying it - "Be careful, it's tempting to make purchases you don't need when the deal is really good, be sure it's what you want."

Now that we've fessed up to our sin of omission, it sounds like you have a couple of extra fans and we can always use a little fresh air around here. Have you ever thought of sharing them with your humble scribes at livecheap.com.
 
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