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Groupon finds success in Penang

AvantiKumar | Aug. 5, 2011
Achieves dominant market share within first 10 days of launch, says Groupon.

Joel Neoh, Chief Executive Officer of Groupon Malaysia

PHOTO - Joel Neoh, chief executive officer of Groupon Malaysia

Social marketing company Groupon Malaysia's expansion to Penang has met with significant success with the island's retailers, selling more than 7,000 Groupons [group coupons] sold within the first ten days of the company's launch, said the company.

"Since we began operations early this year, Groupon Malaysia has grown to become Malaysia's number one market share holder of group buying deals in the country," said Groupon Malaysia chief executive officer, Joel Neoh, speaking in Georgetown, Penang, on 1 August 2011. "Our recent expansion to Penang is an exciting milestone for Groupon Malaysia as we bring the excitement of group buying to customers and merchants outside the Klang Valley."

"That we are able to establish market share dominance in 10 days over competitors who have been present in the market for more than one year is strong proof that customers are looking for more than just cheap deals online," said Neoh. "They want deals which deliver quality goods and services, value, and come with the best and most reliable customer experience possible" said Joel.

Available since 18 July 2011, the introduction of Groupon Malaysia deals in Penang will allow customers to benefit from the company's customary value saving deals of up to 90 per cent off retail prices, he said. "The Groupon phenomenon has been a stunning success throughout the world and has given brands an exciting new outlet through which they can engage with their customers."

"The power of social marketing is fast becoming a leading channel for e-commerce throughout the world, with many merchants already seeking its integration into their business models," said Neoh.

Founded in Chicago in November 2008, Groupon is present in more than 45 countries and 500 markets worldwide, with more than 83 million subscribers.


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