Published 2015-04-15

Let’s deal first local market leader worldwide

Let´s deal breaks growth record and becomes the world’s first local player to become market leader within bargains.

Since its launch in 2010, the Swedish deals website Let’s Deal has provided thousands of companies with more than three million customers and helped 600,000 consumers achieve savings worth around SEK 1.6 billion. During 2014 Let’s Deal gained the market-leading position and achieved a record turnover of SEK 129 million and a profit of almost SEK 40 million.

“As long as consumers want to find bargains, and as long as companies want to find new customers, then we have a job to do,” says Alexander Hars, CEO of Let’s Deal.

Let’s Deal continues to grow in 2015, and this year will mark the first time the company has 100 employees. Sweden is the only country in the world where a local player has managed to pass the global player Groupon to become the market leader, and Let’s Deal is well on its way to achieving the same feat in Norway. The recipe for success is a resolute focus on delivering new customers to companies while enabling consumers to make good deals at the same time.

“We’re a marketing channel with two types of customers: the companies we cooperate with and the consumers who makes purchases and deals on our sites. We do everything in our power to ensure that both parties are as satisfied as possible. If we succeed in doing that, we do a good job, which means we also succeed,” says Hars.

Let’s Deal offers companies exposure to its 600,000 members via its website, apps, and email notifications. In exchange for exposure, the companies drop the prices for their products, services or experiences for a limited period, at no cost to the company if no-one takes up the offer. In other words, the arrangement is risk-free, which suits most companies, regardless of size and marketing budget. The companies win new customers and the customers can shop at discounted rates.

Let’s Deal consists of two components: one that operates along the lines of e-commerce trading offering deals on market-leading products, the other offering local deals in Stockholm, Göteborg, Malmö, Uppsala, Linköping and Norrköping. The latter component consists mostly of services related to personal care, experiences, and restaurants. Let’s Deal also has a travel segment where members can find deals on hotel accommodation, spa breaks, package tours, etc. Membership of Let’s Deal is free.

“In the beginning we mostly published café and restaurant deals, and we still do that, only now we also offer lots more: charter tours, personal and home services, frying pans, and even bathroom suites. In fact, there’s no limit to what we can sell. As long as we Swedes want to find bargains, there will be a need for Let’s Deal,” says Hars.

Let’s Deal was founded by Alexander Hars and Lars Karlsson in 2010, and the company’s turnover has gone from SEK 1.8 million to SEK 129 million in 2014. It has been named Shooting Star of the Year at the Entrepreneur of the Year Awards and was ranked top in the Web Entrepreneur of the Year Award. Let’s Deal has been part of Schibsted Media Group since 2011.