Recent Success Driven By Market Expansion in Southeast
ATLANTA – Within a few months of receiving notable venture funding from Noro-Moseley Partners, BLH Venture Partners and Linch Capital, Half Off Depot, the leading southeast online deal company, is growing significantly through targeted market expansion and member growth. With success in its current cities – Atlanta, Knoxville and recently-launched Tampa – the company is accelerating its expansion into three new Southeastern cities in the third quarter of 2011, providing merchants and customers across the region with a unique deals platform.
As part of its strategic growth strategy, Half Off Depot expects third quarter market expansion into Charlotte, Nashville, and Orlando to be met with enthusiasm and adoption from customers and merchants.
“In today’s market, we know consumers want to save money and the majority of the daily deal offerings fall flat. We’re on to something unique in that we give consumers shopping freedom and choice through our online marketplace, where deals are live longer than 24-48 hours. We’re extremely proud of the growth that we have seen in such a short period of time, and we are confident that we have the right formula to gain more traction as we roll out in new markets,” says Brian Conley, CEO of Half Off Depot.
Success by the Numbers
Half Off Depot is proud of its considerable success in current markets, as evidenced by its 30 percent increase in revenue growth over the last quarter. The company is also seeing tremendous escalation in member numbers, deal sharing from customers, merchant participation and satisfaction, and web traffic. Year-over-year, the company has seen web traffic increase by 82 percent, with 50 percent of visits coming from new users.
“Our competitive advantage is that we understand the challenges associated with running a small business, and we strive to provide a cost-effective solution to acquire new customers for our merchants that turn into loyal repeat customers,” adds Conley.