Twenty-six percent of
local businesses say they are ‘very’ or ‘extremely’ likely to participate in an
online deal in the next six months.
BIA/Kelsey, advisor to companies in the local media
industry, forecasts U.S. consumer spending on online deals (including daily
deals, instant deals and flash sales) to reach $3.6 billion in 2012, an
increase of 86.9 percent over 2011. BIA/Kelsey projects 23 percent growth in
deals spending in 2013, followed by mid-single-digit growth in later years.
This translates into deals spending climbing to $5.5 billion in 2016.
“After astronomical growth in 2012, the online deals marketplace
is showing signs of maturity,” said Peter Krasilovsky, vice president and
program director, BIA/Kelsey. “There has been consolidation in the space, deal
conversion rates may be suffering due to over-familiarity and the market may be
near saturation. Still, market leaders continue to exhibit growth as market
awareness and penetration spread.”
Going forward, BIA/Kelsey envisions online deals will become
an anchor for a platform of non-advertising small-business services. These
services include instant mobile deals, loyalty products, promotions, reputation
management, transaction processing and ecommerce. While these services have
already been introduced to the marketplace, they have not made a significant
impact on overall deals revenues to date. Eventually, BIA/Kelsey expects
they’ll become an anchor element in the broad local play.
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