The Australian online group buying market has seen $123.9 million invested in quarter two of 2011, and there are bold predictions the market will exceed $400 million in 2011.
According to research firm Telsyte, the sector has seen quarter-on-quarter growth of 72%, up from $71.8 million in quarter one. The firm does not have comparitive figures from 2010, which would allow for a year-on-year comparison.
"Australian consumers are spoilt for choice with group buying deals," Telsyte senior research manager Sam Yip said. "The market has gone from publishing around 800 deals a month at the end of 2010, to currently around 4000 deals a month."
The fastest growing deals were in the "leisure and recreation" sector and the "other products and services" category, which grew 121% and 264% respectively.
Meanwhile, national deals continue to grow, representing 17% of the market, up from 13% last quarter.
The fastest growing site was Groupon, known as Stardeals in Australia, which saw 1,356% quarter on quarter growth.
The top sites in terms of revenue are Scoopon, Cudo, Living Social, Spreets, Groupon, Deals.com.au and Ouffer, which generated 90% of industry revenue.
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