NEW DELHI: Deals company Groupon India on Monday said it will focus on wellness, food & beverage and travel segments to grow its business in the Indian market.
Groupon India's contribution to its parent company Groupon International is small at present but the company expects it to grow significantly going forward.
"We are one of the youngest countries in Groupon's portfolio. But it is treated as extremely strategic market. Groupon as a concept is sitting on potential of USD 2-2.5 billion," Groupon India CEO Ankur Warikoo told PTI. Groupon India sold 5 lakh deals in 2012-13.
"Wellness, food and beverages and travel garner dominant share of our total sales and it will continue to grow. We are positioning deal buying into a smart buying. We want to continue building deals category," he added.
Warikoo, however, declined to share the exact financial of the company citing it was a publicly listed firm.
"We are a privately held company so we don't share numbers but we will grow significantly," he added.
The company which claims to be the number one player in the deals category, based on annual traffic it gets on its website, said it is growing about 100 per cent sales growth quarter on quarter since it began operations in India in 2011.
"We get 38 per cent of traffic as against 22 per cent by our nearest competitor and our average transaction value is Rs 1300," said Warikoo.
The company is also experimenting with new verticals such as automobiles and FMCG, but does not see these becoming main growth drivers in the coming future.
Groupon India adopted full price model as against token price model used by competitors. "We were tempted to try token price model when we entered India but we decided to go with full price model. Likelihood of customers availing deal is 94 per cent for us as against industry average of single digits," he said.
Management of Groupon India has also been given mandate for key emerging markets in Asia Pacific region which comprise of India, Thailand, Indonesia and Philippines. "India has emerged as one of the fastest growing countries in the APAC region and the success of the market has been set as an example for other markets," Groupon India said in a statement.
Groupon entered India with acquisition of sosasta.com in 2011. It later re-branded the company to Crazeal.com and again re-branded to Groupon in November 2012.
