12 Apr '11, 2pm

(ST|blog) The power of group buying

Irene Tham looks at the latest rage when it comes to web deals Watching the counter tick at group-buying coupon websites can be as exciting as monitoring the stock market - especially when what you are eyeing, is a huge discount for a long-awaited travel package or restaurant deal. On March 16, some 42,000 Singaporeans zoomed in on a Subway deal that offered buyers any 6-inch sandwich worth up to $6.50 at half the price. Some $140,000 changed hands that day alone. If this doesn't demonstrate the power of group buying, I don't know what does. Group buying coupon web deals are all the craze these days. Since May 2010, some 20 similar websites have popped up. Groupon Singapore is the largest of them with some 300,000 subscribers, contributing 'millions' of dollars of sales a month. The Subway deal that saw a whopping 42,000 coupons sold, was the deal-of-the-day at Groupon Sin...

Full article: http://blogs.straitstimes.com/2011/4/12/the-power-of-grou...

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