Chinese daily deals site tuan.qq, or simply QQ, offered the deepest discounts to its customers in June according to a new report. The site also offered the largest number of deals and had the highest monthly revenue.
Daily deal, group-buying websites work on the principle of offering one deal per day on a product or service at a discounted rate: if enough people buy the deal on offer then all receive the discount, if not enough people buy the deal then no one receives the discount and the money is refunded.
Following on from sites such as Groupon and Amazon's Living Social, the number of daily deal sites around the world has grown dramatically.
A new report titled "Chinese Daily Deal Websites 2011 June Report" examining the workings of daily deal sites in China was conducted by daily deals aggregation site Daotaotaun.com and published last week.
The report tracked 149 daily deal sites across 314 cities over the period June 1-30, 2011; it found that out of the top ten sites with the largest revenue in June, tuan.qq, commonly known as just QQ, offered the largest average discount per deal. QQ's average discount was around 70 percent, while Manzuo offered the smallest discount of the top ten sites- around 60 percent.
Throughout May the two sites reported similar figures. Over the same time period Ftuan offered the second best discounts of around 67/8 percent followed by Meituan with average discounts around 66 percent.
Of the 149 sites tracked by the report, QQ, owned by Chinese corporation Tencent, was found to have offered the largest number of deals throughout both May and June. In terms of quantity of daily deals, Lashou was ranked second in May, falling to third in June whereas 55tuan, ranked fourth in May, rose to second position in June.