The daily deals business model never ceases to impress me including Groupon and LivingSocial growing across hundreds of local markets. Another daily deal accomplishment made this month was by Restaurant.com.
Restaurant.com is a search engine and gift certificate selling website that decided to sell some daily deals a couple of weeks ago. Restaurant.com offered customers 90% in some cases. This meant that customers bought $25 worth of food for as low as about $1.
Restaurant.com extended the offer for another day as it ended up being very popular. After 48 hours, about 1.5 million gift certificates were purchased during that time. The sales of these gift certificates potentially will fill up about 1.5 million tables in restaurants across the U.S. and drives about $105 million of incremental revenue nationwide.
Restaurant.com offered daily deals across over 15,000 restaurants nationwide. There was a total of about 35,000 gift certificate options with no expiration dates offered.
You can only use the one certificate per visit and it rarely includes alcohol, tax, and tips. Restaurant.com was founded in 1999 and customers have saved over $500 million through their gift certificate program.