F.Y.I.

Swapdeals to act as group buying clearing house

The latest venture into the bustling group buying space is a clearing house for unwanted deals.  

The announcement:

Melbourne, 21 July 2011 New marketplace, Swapdeals, was launched today for Australian consumers to swap, buy and sell unwanted and unused deals and gift vouchers for free.

Swapdeals is a new online marketplace, free for all users to swap, buy and sell deals and vouchers, giving consumers the power to retain value that would otherwise have been lost.

Swapdeals founder, Ronnie Navani says that the rapid growth of deal and group buying sites such as Groupon, Spreets, Living Social, Cudo and Scoopon led to his idea for a free consumer service.

“Consumers are purchasing more deals and gift vouchers than ever before. Australia’s daily deals sites are to be worth over $400 million by the end of the year and over 4000 deals are published every day, couple this with the gift card industry, which is worth a reported $1.5 billion with only half the people who receive them spending the full amount,” Mr Navani said.

“Swapdeals means anyone can jump online and swap buy or sell their unused and unwanted deals and vouchers with other users and redeem some value rather than simply losing out by letting their deal or voucher go to waste or simply expire.

“Swapdeals offers consumers an exciting new option. Until recently consumers have not had access to a platform to swap their deals or vouchers.

“Swapdeals lets users swap across a variety of categories such as food, beauty and retail to travel, sport and entertainment. For instance, you can swap, buy or sell a restaurant voucher for a deal on accommodation.

“Australian consumers are encouraged to visit www.swapdeals.com.au, create a profile and start swapping. It’s as simple as posting your deal or voucher and waiting for people to respond with offers,” he said.

Swapdeals is located in Australia, and launching soon in New Zealand, United Kingdom, USA and Canada.

Source: Swapdeals press release

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