Social Buying is All the Rage

You might see them referred to as “social buying,” “collective buying,” or “online daily deals” sites. Whatever the name, there are deals to be had through sites like Groupon or LivingSocial. There are other sites, but those two are currently the most popular.

You can often score 50 to 90% discounts off restaurants, hotels, spa treatments, retail shops, and recreation (just about anything, really). The social aspect: Each deal is good only if a presubscribed number of people join in on the offer before it expires.

I have purchased a few deals from each of the sites. I’ve had a great customer experience on both and have been thrilled with the deals I was able to get. It’s a great way to save money on something you would have purchased anyway; or better yet, it’s a great way to try something new with less risk because you’ll save so much money.

A bonus: LivingSocial gives you your deal FREE if you refer the deal to three friends who also purchase it.  Groupon will award you $10 when you refer a friend and they purchase their first deal.

Both sites have local deals available in tons of locations all over the world. There are iPhone applications available for both sites which come in handy. Another good tip is to sign up for email alerts for the locations you are interested in so you don’t risk your favorite deal expiring before you discover it.

So give it a shot, and let me know if you get a great deal!