October 23, 2010
Daily deals are a wildly popular space right now; there is a lot of competition. We’ve covered the leaders of the pack here before like LivingSocial and Groupon, but with such a crowded space it can be hard for companies to stand out to both customers as well as businesses. Chicago based Bare Deal has an interesting take on the concept.
What sets Bare Deal apart from other deal services is that they don’t sell deals. All of the deals that appear on the site are free to select. Once users find a deal that interests them they are sent a scratch off card that is good for 40% to 100% off their purchase and they are incentivized to utilize those deals. However, there is a catch; users are only allowed one deal per month. Bare Deal also has a loyalty program. Users are tracked and earn points each time they redeem a deal. The more points you get, the higher up the ladder you go and earn perks. One of the biggest perks of leveling up is being eligible for more then one deal each month.
Bare Deal looks like it has an interesting model which will most certainly be appealing to customers. If the customers are on board, the businesses will follow. In addition to Chicago, Bare Deal is looking to expand to other cities like Washington DC, Austin, and San Francisco.
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