Living Social is sure giving Groupon.com a run for its money! In a battle to become the worlds number one site, Living Social is doing all it can to win the hearts and minds of the world shoppers.
Last week LivingSocial in the USA, offered a nationwide deal: $10 for $20 Voucher at Wholefoods. Whole Foods is an organic grocery chain, the largest in the US. The number of vouchers to be sold was capped at 1 million. So in less than 24 hours the million had been reached.
And its not the first time Living Social has sold 1 million coupons in a day. Earlier in the year we covered a story where Living Social sold 1 million Amazon vouchers in a day. Amazon is an investor in LivingSocial, so this was a partnership deal. But the wholefoods deal is the first external deal to sell at such volume.
Its unclear if Living Social actually made any money on the deal. Wholefoods were already losing $10. Then of the $10 they were donating 50c to charity. so it dosen't leave much for Living Social. But no doubt this was one of those deal designed to make news, and bring in thousands of new subscribers to the Liovign Social database. Its the classic "lifetime value of the customer' scenario. while LS may have made no money on the deal, the long term beniefits could be immense.
Top LS competitor, Groupons top sales figure seems to still be 441,000 GAP coupons sold. This netted 11 million dollars in a day which we believe is still the highest actual sales for a single day with each coupon being $25, not $10 as with the 2 LS deals.