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Should You Use Daily Deal Sites?

You’ve probably heard a lot about sites like Groupon and Living Social. What are these sites; can you really save using them; or do you end up spending more money? Let’s review:

What are daily deal sites?
Daily deal sites are online businesses that feature products and services through email, online advertising, and social networking sites such as Facebook and Twitter.

How do they work?
Subscribers, fans, and followers of the online daily deals receive notifications of the daily deal which typically last for 24 hours. The featured business sells their product through the daily deal site. An example is a restaurant who sells a $50 gift certificate for $25, saving the customer 50%.

Why do companies offer these deals?
Daily deal sites offer retailers massive exposure for potential new customers. The hope is that through your purchase you will become a recurring customer and spend more with them in the future. 

When should you take a deal?
Be smart about your purchases. Is this something you have been looking at buying for a while, and it is at a great price? Is it a restaurant, clothing store, or salon you have been wanting to try? If they are, then this is a great way to save money. If you are just taking the deal because it seems too good to pass up, you may be spending more money just to get a “deal.”

Did you know that FORUM offers a weekly deal? Check out our Internet Offer of the Week.

Posted: 6/16/2011 with 0 comments

Categories: Saving, Spending

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