Facebook Will Introduce New Service That Sells Discount Deals

According to Bloomberg News “Facebook is seeking to expand in the fast-growing U.S. market for daily online coupons made popular by sites such as Groupon and LivingSocial. That industry will grow to $3.93 billion”. Facebook the largest internet social network has started a new service in its website that will allow costumers to buy one time deals and discounts. This new service will create a new competitor to Groupon and Living Social. This will also allow many small businesses to boost sales by opening a hole new market and by allowing them to expand and sell to a larger number of people. As well , Facebook will allow “partner services, including ReachLocal, KGB Deals, HomeRun.com, PopSugar City, Gilt City, Tippr, Plum District and Zozi”. Facebook’s competition will be hard on both of the other coupon companies since Facebook has a clientele of half a billion users and it will allow other coupon companies to work with them in their website. All the number of costumers and extra features that that the Facebook coupon store will have will seriously affect the other coupon companies. Facebook’s new service over the coupon market will benefit the consumer because it might cause the demand for Groupon and LivingSocial product to go down and therefore causing even grater discounts.