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Online group buying growth to plunge
By Ding Yining |
August 8, 2011, Monday
|
Online Edition
Online Edition
TRANSACTION volume growth at the country's group-buying websites is expected to drop to 21 percent in the fourth quarter this year from more than 65 percent in the first quarter, according to a latest industry report.
The number of domestic group-buying websites has surged to reach nearly 2,000 by the end of last year, but the market is facing a major reshuffle and only big players are likely to survive the tough competition while cash-tight smaller ones are expected to go belly-up.
Online group buying's overall transaction size is forecasted to be around 13.5 billion yuan (US$2.1 billion) in 2011, according to research house Analysys International.
The industry is also more concentrated as the top 10 websites according to visitor numbers control 55 percent of the market.
Domestic group-buying websites Lashou, Meituan and Wowo were the three most visited sites among their competitors in June.
Lashou has an average of 53.9 million unique visitors monthly, while Meituan has 48.4 million, according to Analysys International.
The number of domestic group-buying websites has surged to reach nearly 2,000 by the end of last year, but the market is facing a major reshuffle and only big players are likely to survive the tough competition while cash-tight smaller ones are expected to go belly-up.
Online group buying's overall transaction size is forecasted to be around 13.5 billion yuan (US$2.1 billion) in 2011, according to research house Analysys International.
The industry is also more concentrated as the top 10 websites according to visitor numbers control 55 percent of the market.
Domestic group-buying websites Lashou, Meituan and Wowo were the three most visited sites among their competitors in June.
Lashou has an average of 53.9 million unique visitors monthly, while Meituan has 48.4 million, according to Analysys International.
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