How Yipit Is Upending the Daily Discount Model This new service scans the web to aggregate offers. Plus, a look at other game-changing companies catering to bargain hunters.
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The recession gave way to a nation of cheapskates. No one wants to pay full price for anything anymore, and consumers continue to spend 30 percent less than they did in 2008, Gallup's consumer spending poll shows.
But consumer spending on daily deal sites is set to soar to $3.9 billion by 2015, says a recent study by BIA/Kelsey, a media consulting firm. And with sites like Groupon and LivingSocial bringing in $1 million a day in revenue, a market that didn't exist three years ago is expected to grow 138 percent in 2011 with a staggering $2.7 billion in revenue, TechCrunch reports.
The real winners of the new frugal economy are the businesses helping people save that precious dough. One of the more ingenious is Yipit, a website that aggregates and recommends local offers from more than 400 deal sites in 32 cities. Rather than signing up for loads of different services, users can simply sign up for Yipit, enter their preferences (e.g., send restaurant deals, but not bungee-jumping deals) and receive a single, personalized e-mail each day.