Record LivingSocial deal highlights Egypt's growing e-commerce appetite
Egypt's deal-savvy consumers are fast gaining confidence in the growing e-commerce market, demonstrated last week by a record 4,587 customers snapping up a single deal on leading local commerce website LivingSocial.
The deal, valued at EGP73,392, offered customers an unbeatable saving on two of Burger King's most popular meal choices and, a company first for LivingSocial, the provision of cash on delivery (COD) as a payment option.
LivingSocial, has enjoyed continual growth in both members and merchants participating in the daily deals offered on its Egypt site. Although Egypt remains a relatively nascent market in terms of online retailing, LivingSocial says this recent sales success confirms the growing acceptance of the business model among consumers.
"The great success of the Burger King deal proves that the Egyptian consumer is ready to embrace the cost efficiencies of the online world. LivingSocial Egypt remains committed to the development of the market and our conviction in its e-commerce potential has now been made stronger," said Dan Stuart, Managing Director, LivingSocial Middle East.
LivingSocial sold a voucher every 30 seconds during the first day of the deal and sold over 2,000 vouchers in less than two days. The deal for a Double Whopper or Chicken Royal Meal for EGP16.00 (reduced from EGP31.00) was available in seven of the 12 Burger King locations in Cairo. Only LivingSocial members were eligible to purchase the Burger King voucher with 365 users registering specifically to net the burger bargain. Members who purchased the deal received their vouchers in the mail to be redeemed at Burger King's outlets across Cairo.
The new option of cash on delivery (COD), a payment alternative only available with LivingSocial Egypt accounted for 22% of the Burger King deal transactions. Commenting on the introduction of COD, Stuart added: "Recent research conducted by LivingSocial showed that 75% of Egyptian consumers prefer cash as a payment method. We have listened to our members and responded accordingly, which is why, for the first time ever, we are offering this alternative payment option."
The deal, valued at EGP73,392, offered customers an unbeatable saving on two of Burger King's most popular meal choices and, a company first for LivingSocial, the provision of cash on delivery (COD) as a payment option.
LivingSocial, has enjoyed continual growth in both members and merchants participating in the daily deals offered on its Egypt site. Although Egypt remains a relatively nascent market in terms of online retailing, LivingSocial says this recent sales success confirms the growing acceptance of the business model among consumers.
"The great success of the Burger King deal proves that the Egyptian consumer is ready to embrace the cost efficiencies of the online world. LivingSocial Egypt remains committed to the development of the market and our conviction in its e-commerce potential has now been made stronger," said Dan Stuart, Managing Director, LivingSocial Middle East.
LivingSocial sold a voucher every 30 seconds during the first day of the deal and sold over 2,000 vouchers in less than two days. The deal for a Double Whopper or Chicken Royal Meal for EGP16.00 (reduced from EGP31.00) was available in seven of the 12 Burger King locations in Cairo. Only LivingSocial members were eligible to purchase the Burger King voucher with 365 users registering specifically to net the burger bargain. Members who purchased the deal received their vouchers in the mail to be redeemed at Burger King's outlets across Cairo.
The new option of cash on delivery (COD), a payment alternative only available with LivingSocial Egypt accounted for 22% of the Burger King deal transactions. Commenting on the introduction of COD, Stuart added: "Recent research conducted by LivingSocial showed that 75% of Egyptian consumers prefer cash as a payment method. We have listened to our members and responded accordingly, which is why, for the first time ever, we are offering this alternative payment option."