Finance:Open2save

From HandWiki

open2save is a local deals and coupons listing service for consumers in India . It was launched in January 2008 by AeNwis e-Systems based in Bangalore. The service is free for consumers and a channel for promoting their deals/coupons for retailers in India.

The service is currently available in Bangalore, Mumbai , Delhi, Chennai and Pune. The service currently lists over 10,000 deals from 2,000+ retailers.

open2save is available both as an online service and as an offline service.

Service details

The online service lists deals and prices for models across various including mobiles, laptops, LCD TVs, digital cameras, clothes etc. Consumers who visit the site can find the best prices or deals in their city based on price, popularity of features. Using the deal information visitors can contact the retailers themselves or contact the open2save team. The open2save team will short list 3-4 retailers with the best deals for the request in the relevant area and have the retailers contact the consumer.

The offline service largely provides discount coupons to corporates, privilege programs and direct to home (local/area specific).

Business model

The service is essential a combination of typical Price Comparison Services like Shopping.com and Discount Coupon Service like ValPak. The company generates revenue through a combination of pricing modesl including selling leads to retailers, price per coupon distributed, price per coupon downloaded and price per coupon redeemed.

Though the concept is not unique, the implementation of this in a country like India is unique given the challenges of collating information in a structured manner from a relatively large set of retailers who are not organized electronically. open2save is one of the first services of this type along with others like offersforshoppers.com and compareindia.com.

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