Editor's Note: Quick, Read THIS NOW!
I thought I'd open up this month's Editor's Note with a discussion about the daily deal/flash sale/group buying trend that's taking over the internet these days.
Who can forget about this past summer when Groupon launched its first nationwide deal of the day — $25 off a $50 purchase at Gap. The frenzy created by the promotion briefly crashed Groupon's server as consumers clicked on the discount. In the end, the deal brought in $11 million in revenue, as 445,000 shoppers paid for the Gap vouchers. (Groupon generally splits revenue with its participating merchants, but both companies declined to disclose their shares).