NEW YORK, NY--(Marketwired - Apr 29, 2014) - LiveDeal, Inc. (NASDAQ: LIVE) which operates www.livedeal.com, a unique real-time online/mobile deal engine in the $660 billion dining industry, is about to stretch its legs and expand the company's deal platform into the retail sales industry. LiveDeal announced this week that it will be expanding its platform to now include products and services.
Anyone who has followed Groupon at all knows this is where the deal giant makes the bulk of its revenues, and one can only surmise that LiveDeal, too, will enjoy a dramatic increase in revenue growth with this expansion.
LiveDeal currently offers instant restaurant deals in more than 20 major US cities, and the company's expansion into the sale of products and services should exponentially widen its audience in and beyond its current cities. Additionally, the new offering should help boost user traffic and user acquisition.
Earlier this year, Groupon announced its Goods division sold $1.137 billion in 2013, up 150% compared with 2012. Groupon Goods accounted for 53.8% of the company's revenue in the fourth quarter of 2013 alone, and the company attributes this to holiday shoppers looking for easy to find and acquire gifts online.
In this week's release, LiveDeal said by expanding the www.livedeal.com platform it will now provide retail goods that include products in the areas of fashion and jewelry, health and beauty, electronics, home, and even children's products.
A move into the retail market is just one of the sectors of expansion that LiveDeal's platform is ideally suited for and that many expected to eventually see when the company launched www.livedeal.com in Q4 2013.
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