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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.

Hierarchy Navigation for NAICS Code 812990-39

Parent Code (less specific)

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

Certifications, Compliance and Licenses for NAICS Code 812990-39 - Consumer Group Buying

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Certified Group Buying Professional: This certification is offered by the National Association of Group Purchasing (NAGP) and is designed for professionals in the group buying industry. It covers topics such as group purchasing fundamentals, contract negotiation, and supplier management. The certification is valid for three years and requires continuing education to maintain.
  • Certified Purchasing Professional: This certification is offered by the Institute for Supply Management (ISM) and is designed for professionals in the purchasing industry. It covers topics such as procurement process, supplier relationship management, and contract negotiation. The certification is valid for three years and requires continuing education to maintain.
  • Certified Professional In Supply Management: This certification is also offered by the Institute for Supply Management (ISM) and is designed for professionals in the supply chain management industry. It covers topics such as supply chain strategy, risk management, and sustainability. The certification is valid for three years and requires continuing education to maintain.
  • Certified Purchasing Manager: This certification is offered by the Next Level Purchasing Association (NLPA) and is designed for professionals in the purchasing industry. It covers topics such as purchasing strategy, contract negotiation, and supplier management. The certification is valid for five years and requires continuing education to maintain.
  • Certified Professional Purchasing Manager: This certification is also offered by the Next Level Purchasing Association (NLPA) and is designed for professionals in the purchasing industry. It covers topics such as purchasing strategy, contract negotiation, and supplier management. The certification is valid for five years and requires continuing education to maintain.

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.

Future Outlook for Consumer Group Buying

The anticipated future trajectory of the NAICS 812990-39 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    Consumer Group Buying is expected to continue growing in the USA due to the increasing popularity of online shopping and the desire for consumers to save money. The industry is expected to benefit from the growing number of smartphone users and the increasing use of social media platforms. The industry is also expected to benefit from the growing trend of consumers seeking out experiences rather than material possessions. However, the industry may face challenges from increased competition and changing consumer preferences. Overall, the future outlook for Consumer Group Buying in the USA is positive.

Industry Innovations for NAICS Code 812990-39

Recent groundbreaking advancements and milestones in the Consumer Group Buying industry, reflecting notable innovations that have reshaped its landscape.

  • Groupon+: A new service from Groupon that offers cashback rewards to customers who link their credit or debit cards to the service and use them to make purchases at participating merchants.
  • Groupgifting.com: A platform that allows groups of people to pool their money together to purchase gifts for friends and family members.
  • Livingsocial Escapes: A travel deals service from LivingSocial that offers discounted hotel stays, vacation packages, and other travel-related services.
  • Gilt City: A luxury deals service from Gilt that offers discounts on high-end products and experiences such as spa treatments, fine dining, and exclusive events.
  • Woot!: A daily deals site that offers discounted products in a variety of categories including electronics, home goods, and apparel.
  • Groupon To Go: A food delivery service from Groupon that offers discounted delivery from local restaurants.
  • Groupon Reserve: A premium deals service from Groupon that offers exclusive discounts on high-end products and experiences.
  • Groupon Snap: A mobile app from Groupon that offers cashback rewards to customers who purchase certain products at participating retailers.
  • Groupon Getaways: A travel deals service from Groupon that offers discounted hotel stays, vacation packages, and other travel-related services.
  • Groupon Goods: A deals site from Groupon that offers discounted products in a variety of categories including electronics, home goods, and apparel.

NAICS Code 812990-39 - Consumer Group Buying

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