LivingSocial is looking to put some space between itself and Groupon with the launch of live events at 918 F Street in the nation's capital. The building was purchased and renovated by LivingSocial to provide space for local merchants to open pop-up restaurants, conduct classes in subjects such as photography and yoga, etc. Best of all for the daily dealer and the merchants — the events are full-priced.
Since opening the building, according to All Things Digital, LivingSocial has generated roughly $1 million from the events. In just four months, the events have risen to 10 percent of LivingSocial's business in the nation's capital.
The cost of the average event is $53, which is 40 percent higher than the typical LivingSocial daily deal, according to Daily Deal Media.
According to LivingSocial, 25,000 people have already attended events since the the building opened. Eighty-three percent of the merchants that have participated in the full-price events have never worked with LivingSocial on daily deals before.
The events, according to Yipit's Pocket Protector blog, are particularly helpful for small merchants because the LivingSocial facility gives them the ability to serve "hundreds of customers on a daily basis" that they wouldn't be able to do in their own shops.
"In a three- to five-year timeframe, I want LivingSocial to be a tab that you keep open in your browser all day long," CEO Tim O'Shaughnessy said in a media presentation earlier this month. "We think that there has to be that integrated commerce platform for local commerce, and we really hope it's LivingSocial."
LivingSocial's events are not exactly a new concept. The online dating service Match.com, for example, is rolling out "Stir" events nationwide. Members get to meet in person rather than online at such get-togethers as bowling nights, dance lessons and cooking classes.
- LivingSocial Experiments With Daily Deals, and It's Like a Virtual Club Med - All Things Digital
- LivingSocial Spent Millions On an Event Space and Here's How It's Doing - Pocket Protector by Yipit
- LivingSocial's 918 F Street Event: 'It's Working' - Daily Deal Media
- LivingSocial Spent Millions On an Event Space and Here's How It's Doing - Business Insider
- The Stir: Events by Match.com - Match.com Blog