Does getting a HOT deal give you a rush of adrenaline? Do you revel in the thought of being one of a select few that snag an exclusive offer? If your answer is a resounding “Yes!”, then you’ll love taking advantage of a “Daily Deal”.
In the last year, “Daily Deal” sites have become a fast moving trend. You’ve probably seen the offers for everything from restaurants, spas and entertainment to clothes, gifts and flowers. They come in the form of “Today only”, “Act now”, “Quantities limited”, “Offer expires at midnight”, etc… But what is a “Daily Deal” and how do they work? And more importantly, are they worth it?
“Daily Deal” Basics
“Daily Deal” websites work with a variety of Retailers to make an exclusive, time sensitive offer to the public. More often that not, it’s at least a 50% discount on a product or service. The “Daily Deal” website usually takes ½ of the profit from the deal. So, if a Retailer is offering $10 off a $20 carpet cleaning service, the “Daily Deal” website will get $5 and the Retailer will get $5.
If that’s the case, then why would a Retailer offer something that could essentially mean a loss of profit? The answer is repeat business. The Retailer is banking of the fact that you will become a loyal customer. They obtain your contact information (address, phone, email, etc…) and will send you information about future sales, coupons and deals.
How does a “Daily Deal” work?
There are two types of “Daily Deals”: National and Local. Recently we’ve seen offers from national Retailers like Amazon, Barnes & Noble and Bath & Body Works. Perhaps it’s an in-store voucher or a specific Coupon Code that you can use online. Whatever the case, if it’s a national deal, anyone can take advantage of the offer. Local deals are specific to a certain locale, city or region.
As a savvy consumer, what do you need to keep in mind when considering making a purchase from a Daily Deal site?
First and foremost, is the “Daily Deal” website and/or the Retailer a reputable company? Make sure the Retailer being featured is one that has a solid reputation. And for that matter, don’t use an obscure Daily Deal site before you’ve checked them out. Go to their website. Read reviews from customers. How long have they been in business? Check with the Better Business Bureau. It’s “Buyer Beware”. If a “Daily Deal” website or Retailer goes out of business, more than likely, you’re out of luck.
Once you’ve decided you’re going to make a “Daily Deal” purchase, read the fine print. Find out how long you have to use the Voucher before it expires. Note whether or not it excludes sales/clearance items, or is only available on specific services.
If the “Daily Deal” is an online offer, check the Shipping Fees. It’s probably not a good deal if they’re offering $10 off a $20 product/service, but shipping is $10. But don’t despair. There a quite a few Retailers that offer Free Shipping on their “Daily Deals”.
Once you make a purchase, you’ll receive an email indicating that your “Daily Deal” will be available to print within a couple of days. In some instances, a certain number of “Daily Deals” need to be purchased before the deal is actually “live”. Once the Retailer and the “Daily Deal” site have had time to go through all the sales, you can redeem your specific deal.
You can then log into your account on the “Daily Deal” site and print your Voucher. Take this to the Retailer if it’s an in-store offer. If it’s an online deal, read the directions on the Voucher. Usually, you’ll be directed to the Retailer’s website and given instructions on where/when to put in your Voucher number to redeem your deal.
What are other tips to keep in mind?
Some “Daily Deal” sites will give you a bonus credit for signing up (I’ve listed them below) or will allow you to earn credits for inviting your friends. With social media, it’s easy to forward a “Daily Deal” to friends and family on Facebook, Twitter or even via email. However, use your discretion when passing on these deals. You don’t want to alienate anyone by sending out too many offers.
The powerful thing about getting a credit, is that you can use these to make purchases on that specific “Daily Deal” site. Watch for the Free Shipping offers to make the most of your credits. And, try to stick with just a few “Daily Deal” sites when you’re referring deals. Otherwise, your credits will be spread out too thin over multiple sites and you won’t be able to accumulate enough credits to redeem another hot deal that comes along.
Use a “Daily Deal” for yourself or as a Gift. Many times, the Retailer will allow you to buy multiple deals. You can print the Voucher and give the Voucher as a gift or redeem the Voucher yourself and give that specific item as a gift. Just one more way to be frugal and generous.
Retailers like Target, JC Penney and Sears are even taking advantage of “Daily Deals” on their own websites. Typically, they are available for only one day and include Free Shipping. Visit your favorite Retailer to see if you can sign up to receive notices on these type of hot deals.
Where can you find “Daily Deals”?
Again, they are countless number of “Daily Deal” websites. Some of the top sites include:
Groupon (Get a $5 New Member Credit to use on your first purchase)
Mamapedia (Get a $5 New Member Credit to use on your first purchase)
Eversave (Get a $2 New Member Credit to use on your first purchase)
Plum District (Get a $5 New Member Credit to use on your first purchase)
Deal Pulp (Get a $5 New Member Credit to use on your first purchase)
Rue La La
Because there are so many “Daily Deal” websites out there, how do you find the best deals without getting overwhelmed? Or without feeling like you’re missing out? You’re best bet is to pick a few of your favorites. Sign up for their emails. Follow them on Facebook or Twitter. Or better yet, let your favorite money saving blog, like A Proverbs Wife, do all the hard work for you. She is scouring the web to find the best daily deals available. Use her as your money saving resource and you won’t miss out!
So the bottom line…are “Daily Deal” sites worth it? Absolutely. You can snag terrific gifts, services and products at a fraction of the cost. You and your pocket book will be happy.
Anna from Your Retail Helper is a WAHM wife and mother of three children under the age of six. She works hard to find great deals on all things retail including household, gifts, clothing, etc…. As well as, teaching others how to create a Gift Reserve.