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Wednesday, June 29, 2022

The Daily Deals Market In Finland

There seems to be at least one daily deal aggregator in each country, and it’s interesting to get their take on the local daily deals from their vantage point above the market. According to the daily deals aggregator, Dealfins, the daily deals business in Finland is different from other North European countries. It lacks the niche sites that sell specific deals, and the market is almost completely dominated by Groupon – Citydeal, which holds 89% market share. Dealfins has also noticed that business is also very much concentrated in the Greater Helsinki area.

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If you compare the Finnish market to our Danish coverage, it’s easy to see that there is still room for growth in Finland. According to Bownty, the Danish market is estimated to be close to 47M€, but in Finland the revenue for 2011 was under 20M€. Although there are over fifteen dealsites operating in Finland, there is still room for large players.

The most sold deals in Finland have been the infamous Flight deal (that wasn’t much of a deal) by Citydeal that grossed €1,4 million. That promotion rang in at almost eight times the second most grossing deal, a trip to Phuket Thailand. The most grossing deals in Finland are typically travel or restaurant deals such as six meal dinner at Michelin starred Chez Dominique that brought in 135 000€. A breakdown of categories is at the end of the post.

Markus Kauppinen, co-founder of Dealfins, tells us, “I think that Finnish dailydeal market has still room for growth and we’ll probably see a couple of acquisitions and new players entering the game. Groupon is going to keep dominating the market with first mover advantage and because it has salespeople all over Finland, as in the other sites operate mainly in the Greater Helsinki area.

“Succeeding in the industry is going to about customer retention and it’s possible to achieve it only with quality deals. People don’t anymore go after just discount, there has to be some real value for them. Groupon has also made some moves towards geo social deals and it’s exciting to see what they come up with.”

See our past coverage of the daily deal markets in the Baltics and Denmark.

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