08 Oct '12, 6am

Asia's daily deals industry jumps the shark, but could see Rocky Balboa moment

Asia's daily deals industry jumps the shark, but could see Rocky Balboa moment

Asia’s daily deals industry jumps the shark, but could see Rocky Balboa moment October 8, 2012 by Terence LEE A customer at a Groupon Singapore concept store. Photo: Groupon In Asia, the daily deals industry is apparently in the doldrums. In an analysis done by Groupon Singapore , only 19 group buying companies now remain, down from a peak of 72 in 2010 and 39 in 2011 . 84% of these companies lasted less than a year. SGE has even covered the demise of a couple of these websites: Outlet.com.sg and Mocca Perks . The downward spiral in Singapore dovetails with the predominant trend in Asia and the world: Group buying sites are shutting down en masse. In the second half of 2011 alone, Daily Deals Media reported that 1,348 such companies have gone under. While some group buying sites have been acquired, they are in the minority. Groupon’s share price, meanwhile, has tumbled to ...

Full article: http://sgentrepreneurs.com/2012/10/08/trend-alert-daily-d...

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