Deal of the day also popularly known as the slash sale is a business ecommerce prototype through which the website offers discounts on a certain product for duration of 24 – 36 hours. People who are lured by these deals register on the website and they get offers through email, social networking sites etcetera.
This concept had a surge in popularity back in 2011 and has been growing as a business model ever since then, but industry experts have questioned when the growing bubble of this business model burst.
Deal of the day in India is quite a popular concept which actually made it popular and grows. In about 2 years the industry had grown to an extent where it had over 100 websites operating on the same platform.
Many social networking websites like Facebook tried to get their own deals of the day model on the web but had to withdraw as it was not able to generate revenue, but these social networking sites have aided in spreading the popularity of a deal and hence has helped the growth of the deal websites.
This concept helps the retailer to advertise their services or products at a discounted price directly to the consumer of the deals website and allows them to circulate their surplus inventory. Thereby, gaining a faster inventory turnover and achieving brand recognition and loyalty.
Most of the sites working on the deal of the day model work to develop deals which are considerably discounted as compared to normal retail prices of the local businesses from whom the deals are brought. They use the intensive buying formula through which they are able to maximize on discounts offered by the retailer and then they throw a set number of deals to the consumers thereby ensuring higher revenue.
There are deals available for all sorts of products and services like apparel, spas and salons, restaurants, events, bars, fitness, performing arts, travel related, on hotel bookings, electronic gizmos and gadgets etcetera.
Now a days most of the online websites also have started to use this model to offer discounts on certain products for a day luring the consumer to visit their site and then not only end up buying that one certain product but viewing other products and maximize their sales.
There are other companies who offer monthly deals which have coupon codes on their website.
The deals of the day are valid for certain duration and the consumer can reap its benefits by registering and buying these deals through electronic transactions. A receipt is then received by the consumer on their email which is then produced when the consumer visits the local showroom or restaurant or to avail that service. The validity of a product is fixed from before and the deal has to be availed before the expiry.
There are a number of deals online and through a simple search on the web you can look for the best sites, or best deals of the day. These deals may seem very attractive and hence it’s important to read the terms and condition part and then procure the deal. It’s always better to be safe than sorry.