Rocket Internet SE-backed Global Savings Group has partnered with the Daily Mail tabloid, and is now bringing its discount-coupon service into the U.K in time for Black Friday and the Christmas shopping season.
This month, the service will kickstart its offerings on the website of Daily Mail and General Trust Plc’s flagship newspaper, as informed by Global Chief Operations Officer Johannes Wirth on Friday in a phone interview. She said,
Most publishing houses have a hard time monetizing their traffic, and we offer them an additional source of income through revenue-sharing or fixed payments. We’re expecting Black Friday and the upcoming Christmas shopping to drive sales and want to become the leading discount-code platform in the U.K. in the next months.
Global Savings Group functions by linking shoppers with free coupons and discounts for about 19,000 online retailers such as Amazon.com Inc., Zalando SE and Asos Plc. According to Wirth, it gets a fee of 5 percent to 15 percent of the value of a shopper’s purchase. In the very same interview, Managing Director Andreas Fruth said that the company is confident it will break even this year.
The company, which is active in more than 20 countries including Germany, India and France, competes with the likes of RetailMeNot Inc. and CouponDunia. Global Savings Group and its rivals are rushing to build scale as the retail sector continues to be revolutionized by e-commerce rather than actual, physical shops and stores.Rocket Internet owns about 40 percent of the startup.
Started about four years ago, Global Savings helped generate 232 million euros ($253 million) in gross merchandise volume in 2015 and wants to about double that this year, Fruth said. Investors in the company also include Deutsche Telekom AG and Holtzbrinck Ventures.
The latest move, designed to help publishing companies improve payments and coupon performance, will likely be a huge hit, considering the time of its signing. With the holiday season right around the corner, people are sure to want to avail of what this partnership offers.
