The daily deals market is proving to be a successful one with UK consumers spending over £292m through daily deal websites in just a short six months.
The recent growth in the daily deals market has spurred the daily deal event, DD Summit Europe 2012, the first event of its kind. Big names in the daily deals industry like Groupon and Living Social UK are part of the event.
Statistics released by the organisers of DD Summit Europe reveal that between July and December 2011 consumers saved an average 56% by shopping on daily deal websites, which adds up to a whopping £375m.
The daily deals market is definitely growing. There are currently 70 active daily deal sites in the UK and more than 200 new sites have launched in the past six months across Europe. Online daily deal sites have quickly influenced UK consumer shopping habits.
"Consumers are already spending a huge amount of money on daily deals and this is set to increase in 2012," says Stavros Prodromou, director of DD Summit Europe.
Websites like Groupon, Living Social, and kgbdeals offer their subscribers up to 90% off a broad range of services and products, like haircuts and holiday trips. As people are keeping a tight grip on their funds during the economic dip, offers on ways to save is creating profitable return for those in the market.
"In this time of recession people are always looking for good value and with the advent of the smartphone, daily deals have exploded onto the market. This industry is one of the few success stories of the economic downturn," said Stavros.
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