Oct 2, 2024
You’ve probably noticed that deals are everywhere these days. Whether you're browsing online or walking into your local coffee shop, chances are there’s a "limited-time offer" designed to grab your attention. But did you know that the deals market is largely dominated by three main sectors: restaurants, retail, and lifestyle? Let's dive into the numbers to understand how each of these categories shapes the market—and more importantly, how Host, the app I've been working on, is using these insights to carve out its place in this space.
Restaurants: The Taste of a Good Deal (25% Market Share)
Restaurants have long been a powerhouse in the deals market, holding a solid 25% share. Why? Simply put, everyone loves food, and they love it even more when it's discounted. From fast-food chains offering BOGO deals to high-end restaurants with discounted tasting menus, the dining sector knows how to reel in customers.
Even before the pandemic, digital tools were driving this shift. But now, with online ordering becoming the norm, restaurants are leaning into apps and platforms to boost customer loyalty and engagement. According to industry reports, 70% of consumers prefer digital ordering for delivery, and many are influenced by discounts and promotions (Mordor Intelligence)( lunchbox). The convenience of a quick click, coupled with the thrill of scoring a deal, makes food-related promotions a staple of the market.
For Host, this is a key area of focus. As we expand our app into cities like Toronto and London, Ontario, we're partnering with local eateries to offer exclusive discounts. Whether it's a small café or a trendy new restaurant, Host gives users the chance to discover dining spots without breaking the bank.
Retail: The Heavyweight Champion (50% Market Share)
Retail, however, is the true giant in the deals world, accounting for 50% of the market. Think about it—when was the last time you bought something online without first searching for a coupon code? From clothing and electronics to home decor and beauty products, retail deals have an undeniable allure. Retailers know this, and they strategically roll out promotions to drive traffic and sales.
The rise of e-commerce has only accelerated this trend. Flash sales, limited-time discounts, and exclusive online promotions have become everyday occurrences. Reports show that retail dominates because of the sheer variety of products and the global scale of its reach (Weitzman Group).
Host is tapping into this trend by bringing local retail stores into the fold. We’re not just about food—Host offers deals on everything from boutique clothing stores to tech shops, making sure our users can save on their everyday purchases. With our new savings tracker feature, users can see exactly how much they’ve saved over time, which adds a rewarding aspect to the experience.
Lifestyle: Small but Mighty (15% Market Share)
While it holds a smaller piece of the pie, lifestyle businesses—like fitness centers, salons, and wellness services—make up 15% of the deals market. This sector might not be as ubiquitous as restaurants or retail, but it's steadily growing. And let’s face it, who doesn’t want a discounted spa day or yoga class?
Lifestyle deals cater to the rising consumer interest in experiences and self-care. With trends like wellness, mindfulness, and fitness taking off, more people are looking for affordable ways to improve their quality of life (Mordor Intelligence). Host recognizes this, and our lifestyle deals section includes everything from discounted gym memberships to salon services.
The key is making these deals accessible and easy to find. So, how does all of this tie back to Host? Well, these insights are the backbone of our strategy for Host 2.0. We’ve looked at how the deals market is segmented, and we’ve tailored our app to meet the demands of these key categories. Restaurants, retail, and lifestyle are the core of what we offer, and we’re constantly refining our features to ensure that users have the best experience possible.
We’re also taking things further by continuing to introduce new tools that improve the user experience. The merchant time indicator helps users know when a deal is live, while personalization algorithms ensure they see the deals that matter most to them. By creating a seamless experience and offering real value, we’re positioning Host as a must-have app for deal seekers across Ontario.
Download Host and start saving $100+ across restaurants, retail and lifestyle!