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Think Twice about Daily Deals

Apparently, nearly one out of every two of us is hooked on daily deals like Groupon. Some 47% of consumers subscribe to at least one daily deal website, according to Local Offer Network’s recent study, “The Daily Deal Phenomenon: A Year in Review.”

Revenue growth for such sites as Groupon and LivingSocial shot up north of 40% between 2010 and 2011, according to a new report from BIA/Kelsey, a media research and consulting firm. While new daily deal sites are springing up seemingly every day, problems arise on the consumer’s end of the deal when needless overspending is masked as saving money.

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