Rise of Group Buying Sites

Have you bought off a group buying site, such as Gilt Groupe or Groupon? These sites are growing extremely quickly. Sales from private sales sites will almost top $1B in 2010 and sales from group buying sites will reach over $350M. Site visits to group buying sites are up 72x over last year. Although these sites started with high-end products, they have gone mainstream. Groupon and Woot sell many other product categories including consumer electronics and sporting gear, at more affordable prices.