NAICS Code 812990-39 - Consumer Group Buying

Marketing Level - NAICS 8-Digit

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NAICS CODE 812990-39
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NAICS Code 812990-39 Description (8-Digit)

Consumer Group Buying is a business activity that involves a group of consumers coming together to purchase goods or services at a discounted price. This type of buying is usually facilitated by a third-party platform that connects consumers with businesses offering the products or services. The platform negotiates with the businesses to offer a lower price to the consumers, who then commit to purchasing the product or service if a certain number of people also commit to the purchase. Consumer Group Buying is a popular way for consumers to save money on products or services that they may not have been able to afford at full price.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 812990 page

Tools

Tools commonly used in the Consumer Group Buying industry for day-to-day tasks and operations.

  • Groupon
  • LivingSocial
  • GroupOn Clone
  • Woot
  • Slickdeals
  • FatWallet
  • RetailMeNot
  • Honey
  • Rakuten
  • CouponCabin

Industry Examples of Consumer Group Buying

Common products and services typical of NAICS Code 812990-39, illustrating the main business activities and contributions to the market.

  • Restaurant Deals
  • Travel Packages
  • Spa Services
  • Fitness Classes
  • Entertainment Tickets
  • Home Services
  • Beauty Products
  • Electronics
  • Clothing
  • Pet Supplies

History

A concise historical narrative of NAICS Code 812990-39 covering global milestones and recent developments within the United States.

  • Consumer group buying has been around for centuries, with the first recorded instance of group buying dating back to China's Song Dynasty in the 11th century. However, the modern concept of group buying as we know it today began in the early 2000s with the launch of websites like Groupon and LivingSocial. These websites offered daily deals on products and services, with discounts of up to 90% off. The industry quickly gained popularity, with many other companies entering the market. In recent years, the industry has faced challenges due to increased competition and changing consumer behavior, but it continues to be a popular way for consumers to save money on products and services. In the United States, the consumer group buying industry began to gain traction in the late 2000s, with the launch of Groupon in 2008. The industry quickly grew, with many other companies entering the market, including LivingSocial, Google Offers, and Amazon Local. However, the industry faced challenges in the early 2010s, with many companies struggling to turn a profit and some even going bankrupt. Despite these challenges, the industry has continued to evolve, with many companies shifting their focus to mobile apps and personalized deals. Today, the industry remains a popular way for consumers to save money on products and services, with many companies offering deals on everything from restaurants to travel.