The total turnover of groupon like daily deal sites in China has reached CNY 6.67 billion in the first quarter of 2013, up by 14.8% compared with the previous quarter. Moreover, monthly sales in March reached a record amount of CNY 2.34 billion.
According to some historical data, it is easy to find that there are three critical periods. Before July in 2011, the average monthly turnover of daily deal sites was below CNY 1 billion. Before December in 2012, the amount was under CNY 2 billion. And since December of 2012, it has exceeded CNY 2 billion.
Industry experts analyze that the online daily deal market in China has gone through the stage of wild growth and blind competition and now it is in more stable development with more emphasis on refinement of operation and promotion of service quality. With the development of smartphone and mobile internet, the daily deal industry has entered into a new round of development.