LivingSocial's Whole Foods offer a hit
PORTLAND, Ore.
–
Daily deal site LivingSocial hit a record selling pace Tuesday with an
offer at Whole Foods Market Inc., its first nationwide grocery deal.
The offer let shoppers buy $20 worth of
products at Whole Foods for $10. LivingSocial said it was selling
roughly 115,000 an hour, which company spokesman Andrew Weinstein said
is its fastest-selling offer ever. That's about 30 deals sold per
second.
"It is a staggering rate," he said.
The
company planned to sell up to 1 million of the deals. They went up for
sale at 5 a.m. ET and was scheduled to run until the same time
Wednesday. However, by midday Tuesday about half were gone, and the deal
was expected to sell out early.
The offer is available to anyone who registers for LivingSocial or is an existing member of the site.
Austin,
Texas-based Whole Foods, which already is seeing higher traffic and
sales trends in its stores, was not immediately available to comment.
The company plans to donate 5% of the sale price to its Whole Kids
Foundation, which supports children's nutrition and wellness.
LivingSocial,
based in Washington, D.C. and the second-largest daily deal company
behind Groupon, has run grocery offers before for regional or specialty
retailers. But large supermarkets and grocery stores typically shy away
from such deep discounts because they already operate on thin profit
margins and offer a host of other promotions already.
