Cobone: Over 150K customers saved 2 million with group buying

Press release:
With over 22,500 vouchers sold, resulting in AED 2 million in savings over the last eight weeks alone, Cobone.com has been demonstrating how quickly consumers are adopting online group buying across the Middle East.

A company wholly owned by Jabbar Internet Group, the region’s leader in online purchasing with 10 years in the industry, Cobone.com offers internet shoppers in the region a whole new way to find the hottest deals. By making purchases as a group, buyers use Cobone.com to access daily offers for products and services in the most fun, social and innovative way possible.

This has resulted in a growth rate in buyers and new registrations of 25 per cent each week, split between Arabic and English speakers at a 40:60 ratio. In total, over 150,000 customers have signed up over a ten week period.

“Online group buying is not a new concept in other regions, such as Europe and North America, but with Cobone.com, the format is widely growing in the Middle East,” said Paul Kenny, CEO and Founder at Cobone.com. “In such a short period of time, a wide cross section of internet users has embraced it, as our figures demonstrate.

“Local companies have quickly adapted to online group buying and are already reaping the benefits. For example, one recent package from the Chill Out Café in Dubai offered a 75 per cent discount on regular prices and attracted 2,760 successful bidders. It is because brands like Chill Out Café have immediate access to such a wide number of customers that online group buying has so quickly proved to be successful.”

Because of the significant discounts available, family experiences including dhow cruises, balloon flights, karting and tickets to Wild Wadi have proved to be extremely successful with bidders – each one sells an average of 820 vouchers. Also, hospitality deals for restaurants and entertainment venues have been very popular, each one attracting around 340 successful bids.

Figures have also shown that regional online buyers’ favour our secure Credit Card and Cash on Delivery payment method, followed closely by PayPal and CashU.

“Cobone.com is very easy to use and above all it is a fun way to buy,” said Mr Kenny. “It is unique in its adoption of Arabic content with 100 per cent Arabic support amid a wealth of locally relevant offers. This is something we see as one of its most powerful assets. We are delighted with the way people in the Middle East have quickly adopted online group buying and we look forward to offering the best deals in the region.”