Saving Money is Primary Reason for Daily Deal Membership
Daily deal vendors are slowly realizing that many of the industry assumptions they have already established are just not holding true. For example, the driving force behind many daily deal memberships (according to a recent Accenture survey) isn’t finding new activities as many would assume but simply “saving money.”
54 percent of survey respondents from households earning at least $150,000 a year subscribe to a daily deal site, compared to 27 percent of respondents from households that earn $35,000 or less a year. And nearly half (47 percent) of people aged 18 to 24 currently subscribe to a daily deal site, compared to fewer than four in 10 (37 percent) of those between 55 and 64.
“The daily deal craze is still strong, especially with young consumers and people with higher incomes who can make their purchases right away,” Tom Jacobson, senior executive, Pricing & Profitability Strategy of Accenture said.
What is important to note in the survey is that the proportion of consumers who belong to daily deal sites increases with income, and those with higher incomes are more likely to belong to several daily deal sites. As a result, Jacobson said retailers must incorporate deal sites into their channel strategies in order to reach this customer segment.