DiscountPandit Wants To Be The Hyperlocal Deal Search Engine [With Social Angle]
Couple of days back we asked a question: Is There a Business Model in Deal Aggregation Space? and an interesting perspective that came out was that Business Model for Deal Aggregators Should Not Be Aggregation of Deals.
The business model should be Distribution – distribution of deals, that’s where they start testing their capabilities and adding value to the ecosystem!
DiscountPandit is a newly launched (Bangalore based) deal site that wants to bring hyper-local + social angle to the deal space. That is, based on your current location, the site will show deals within 10 kms of radius (very recently, Snapdeal too launched Deals NearMe).
Given that most of the deals are geo-tagged (or geo-tagging them doesn’t take a lot of effort, and few other aggregators are also doing this), the key here is distribution/discovery. In my opinion, instead of building a destination site, deal aggregators should focus on building a platform which they can license to bigger players (especially media companies/publishers).
As far as DiscountPandit is concerned, the team really needs to define the right metrics for the product. What is important – more ‘registered users’ or better conversion? Right now, you need to login to view the aggregated deals on the site and frankly, unless there is an exclusive mind-blowing deal (like Galaxy S2 for INR 100/!), an average user has way too many other deal sites/options to look at and will eventually give the site a skip.
In short, answering “What Business Am I In” is the way forward, though the good news is that the site has done a good job of categorization, usability and the mobile version works as-promised.
Here is a quick QnA with Alan, founder of DiscountPandit.
I couldn’t see anything ‘hyperlocal’ about it. Correct me if I am wrong – but these aren’t hyperlocal deals (going by the true definition of hyperlocal).
DiscountPandit has two variations i.e the web version and the mobile version. Given the complexity of finding the exact location and the hesitation by a few users to share their location on the web, DiscountPandit displays relevant search results within a 10km radius. Here, search relevancy takes precedence over location. The mobile version finds your exact location and deals are displayed based on your location. Hence, Hyperlocal. Going ahead DiscountPandit will display hyperlocal sponsored listings.
b. What’s your biz model? Are you a deal aggregator?
Technically, though we aggregate deals from various sources the social layer takes prominence over here. We will be launching several features in the coming weeks to enhance the social experience of deal buying.
The business model is through sponsored listings, deal recommendations and a deal distribution network.
Do give DiscountPandit a spin and share your comments.
Recommended Read: List of Daily Deal Aggregators In India.