The latest popular online trend in businesses online appears to be social and group buying of daily specials in your local area.
Websites like Groupon and LivingSocial have become very successful by applying this business model to special deals. Group is valued at about $1 billion only after a year of operation with many new locations added to their website.
The websites make use of social media sharing, such as Facebook Connect to spread the specials through visitors’ circles of friends. This not only broadens the exposure of each special, but gives it a personal recommendation from each person that posts it.
It will be interesting to watch what other social equipped businesses launch in the future.
