Daily Deals. Do they make Sense for your Lingerie Business?
Just how many “daily deal “options do consumers partake in?
Or the more important question, does the “daily deal bring back repeat business?”
A recently published study by Dholakia, Utpal M., How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livingsocial, Opentable, Travelzoo, and BuyWithMe Promotions (June 13, 2011) reveals some surprising figures.
“Daily Deals: the study found that of the 324 businesses that were surveyed 55.5% of businesses reported making money, 26.6% lost money and 17.9% broke even on their promotions. Nearly 80% were new users with close to 20% returned for repeat business.”
Available at SSRN: http://ssrn.com/abstract=1863466, the study found that of the 324 businesses that were surveyed 55.5% of businesses reported making money, 26.6% lost money and 17.9% broke even on their promotions. Nearly 80% were new users with close to 20% returned for repeat business.
Other findings from a ForeSee Results survey show thirty-eight percent of daily deal buyers—the largest share—said they were already loyal to the business offering a deal.
However, nearly a third were new customers and the same percentage had been swayed by a discount after having either visited only sporadically or had stopped patronizing the establishment altogether.
As our Small Business advertising budgets continue to shrink it is important to research where and how to get the most for those dollars.
At Gozooko, the customer always comes first. Our lines of products are customer driven, and our goal is to meet your needs and to help your business grow. As always we welcome your comments and suggestions. We look forward to hearing from you. GozookoGuys@gozooko.com