Coupon clipping has moved to cyberspace.
Social media coupons are the new rage, often bringing deep discounts from local retailers right to your email inbox.
Websites like Living Social and Groupon allow retailers to offer services at up to 90% off the regular price. But the discount doesn't take effect until enough people buy into it.
Market researchers claim social media marketing isn't just here to stay, it's about to take over.
One user says she's saved $1400 in the past two months by using the service.
"Laser hair removal is usually $600 dollars and it was 99 bucks. Sushi is 60 per cent off $100, you get 20 pass cards to yoga for a dollar a piece as opposed to $14 per drop in. So it adds up really quick," says Lisa Kulyk.
Not everyone's buying into it.
Melrose Bar uses Facebook and Twitter to keep in touch with its clients, but is taking a pass on social media coupons.
"We are looking at more building and retaining our customers rather than trying to attract new ones, which is what groups like Groupon and Living Social do," says Tony Johanson.
But for companies looking to get established, the coupons are a fast way to build clientele. When Back and Body Health put a coupon online it expected 500 sales. They ended up cutting it off at 2100.
Most of those were new customers.
