Groupon clones seem to be everywhere these days. This is most notably seen in Vietnam, where I am living right now, where according to this article there are about 10 sites live or about to go live. Among them, there’s the Groupon-esque section of Zing, which is arguably the largest youth-oriented portal in Vietnam. There’s Phagia.com.vn (formerly Groupon.vn), Cungmua, Kenhgia,Muachung, Hotdeal.vn (an IDG investment), and Nhommua.
The group-buy site that introduced me to the scene is Nhommua, which is part of Rebate Networks, a company based in Germany which has cloned the Groupon formula in 29 countries. I met the Nhommua guys together with Diadiem.com (a maps and directory site, which sells data to Google Maps, also an IDG investment). Needless to say, these Groupon-type businesses are picking up speed with very strong sell-through rates (depending on the company, of course).
Vietnam’s internet usage is currently around 27% penetration with about 24 million users, mostly using desktops and laptops – reversely, mobile internet has yet to take off. Very fast internet speeds with free wifi available almost anywhere around the big cities (Ho Chi Minh City and Ha Noi) encourage casual internet usage, with the growing middle-class of Vietnamese using their laptops in cafes for Facebook, even though Facebook is officially blocked by the government (and thus needing a workaround which most internet-using Vietnamese know anyway). Ho Chi Minh City is full of kids who love their Nokias and iPhones, but you’ll hardly ever see them using it for internet. Yahoo is dominant over Google for mail services, and you’d be hardpressed to find any Twitter orFoursquare users here (I personally only know 1 or 2).
With 24 million internet users who are active on social networks and forums, the potential for business is huge – with an also large potential of buying power. Services like cash on delivery to the customer and a short time for accounts settlement with the retailer will ensure that interest from both buyer and seller remain strong. But on the question of who will ‘win’ the Groupon-clone wars in Vietnam, only time will tell.
(Full disclosure: my company is currently doing business with Muachung, Nhommua and in discussions with Hotdeal.vn.)
About the author: Ario Tamat is a media professional, a veteran of Indonesia’s digital music and mobile industry and now currently working in Vietnam in the film and media industry.
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