Online Shopping

Did you know that the shape of the online buying market has changed? A recent surge in the growth of ‘social buying’ websites could save you thousands.

What are ‘social buying’ websites?

Generally ‘social buying’ websites offer the reader a heavily discounted deal-of-the-day. Deals tend to be based on your local city and common industries include restaurants, hairdressers, beauticians and experiences.

The idea is simple, by using these sites companies can advertise their product and sell huge volumes, for this they are willing to offer significant discounts.

Are they safe?

The Australian group buying market is currently the fastest growing sector in the online retail space and the market is forecast to generate $242m in 2011 (Telstye forecast).

Who are the major players?

These top 4 sites represent 79% of the industry however there are many others:

• www.spreets.com.au
• www.scoopon.com.au
• www.jumponit.com.au
• www.cudo.com.au

What kind of discounts can I expect to receive?

Discounts vary significantly but many deals offer discounts between 75%-85%.

With the cost of living rising, these sites are a great way to keep to your budget.