In light of reports that the company was canceling its investor roadshow and postponing its IPO, daily deals aggregator Yipit has some positive information about Groupon’s trajectory in August, namely that it had a banner month revenue-wise.
The daily deals frontrunner grew 13% during the last month of summer, increasing its revenue to $120.7 million from $106 million in July.
This growth broken down symbolizes a 10% increase in the number of Groupons sold per deal and a 5% increase in the average Groupon price, both increases compensating for a decline in the number of deals ran by Groupon.
Groupon Getaways, Groupon’s nascent travel deals product, bolstered the company’s sales, accounting for $9.6 million in revenue in August, compared to $5.7 million in July. The $3.9 million Groupon Getaways difference represented 27% of Groupon’s overall growth for the month.
According to the Yipit data, which is derived from tracking over 30K daily deal offers in August, Groupon’s double-digit revenue growth was in stark contrast to competitor LivingSocial, whose revenues declined for the second month in a row.
LivingSocial’s revenue in August was $45.1 million, representing a 3% decline from $46.4 million in July. This decline could be broken down into a 6% decrease in the number of vouchers sold per deal and a 1% decrease in the average price per voucher. LivingSocial did however increase the number of deals it ran by 4%.
Revenue for the daily deals industry as a whole grew 9% in August, from an estimated $209 million in July to $228 million.
The Yipit report holds that Groupon’s overall market share during the past month grew to 53% while LivingSocial’s estimated market share declined to 20%, with Groupon gaining 2% from its 51% share in July while LivingSocial declined the same amount from its 22% share during the same month.
LivingSocial is the social commerce leader behind LivingSocial Deals, a group buying program that invites people and their friends to save up to 90 percent each day at their favorite restaurants, spas, sporting events, hotels and other local attractions in major cities. LivingSocial has an extensive user base of more than 85 million, and is headquartered in Washington, D.C.
Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 565 cities around the world. By promising businesses a minimum number of customers, Groupon can offer deals that aren’t available elsewhere. Groupon brings buyers and sellers together in a fun and collaborative way that offers the consumer an unbeatable deal, and businesses a large number of new customers. To date, it has saved consumers more than $300 million and claims it...