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BIA/Kelsey: Online deals still hot for SMBs
When it comes to capturing the attention of consumers, small retailers and local businesses continue to bet on deal sites. According to a new survey from BIA/Kelsey just over half of local businesses (surveyed) say they are likely to use online deals within the next six months.
Much of that use could come during the upcoming holiday shopping season when small businesses look online to help bring in more sales and use the online space to better engage traffic. According to the BIA/Kelsey forecast:
• 15% of local businesses are 'very likely' to participate in online deals
• 11% are 'extremely likely' to participate
• 24% are 'somewhat likely' to participate in daily deals
What's more, consumers continue to logon for daily deals. BIA/Kelsey predicts consumer spending (US) on online deals will reach at least $3.5 billion by year's end (2012). That is an increase of more than 85% over 2011 numbers; for 2013, forecasters predict daily deals will increase by about 13% and by 2016 the online deal space is expected to reach $5.5 billion.
"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."
According to the recent Local Commerce Monitor report from BIA/Kelsey small businesses continue to show interest in online deals and they suggests that online deals may become the status quo for businesses who don't otherwise advertise online.
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