First published on 27 Jul 2012. Updated on 27 Jul 2012.
In the Financial Review last week Ben Mulcahy, managing director of the Pink Media Group, was quoted: “As a gay man looking at Groupon or Scoopon or any of those current sites, most of their products are not directed at me.” In response to the gap they spotted in the market, Mulcahy and his colleagues have launched the new discount coupon website, Pink Rewards. And like Groupon and Scoopon, Pink Rewards offers a whole host of dollar saving deals but, and here’s the winning feature, the website and product selection are tailored specifically for GLBTI consumers.
When we asked what the original group coupon sites were missing, Mulachy explained that a lot of the imagery employed by Groupon and Scoopon (and similar sites) is specifically targeted at a heterosexual customer base – heterosexual couples out to dinner, heterosexual couples going on holidays, etcetera. Mulcahy feels that equivalent imagery featuring homosexual couples, which are readily available on Pink rewards, will make the GLBTI community feel totally welcome and comfortable in their deal hunting. Of course we all know that the GLBTI community are more than capable of looking past these images to the deals themselves, but why should a community who control so much of this country’s disposable income be excluded in such an explicit manner?
It’s been suggested that, considering how saturated the market is with these coupon sites, starting a site like this with a niche customer base is business suicide. The savvy folks over at Pink Rewards have got this base covered too. Firstly, the deals that Pink Rewards offer are not contingent on group interest: meaning that, unlike some other websites, you don’t need to be one of many interested parties in order to score the deal. Essentially, the deals are available to anyone. Sure, they’re only offered for a limited time, but, with a much steadier turn over, Pink Rewards gives you plenty of time to consider your options and make an informed purchase.
Secondly, and perhaps most poignantly, Mulcahy pointed out that calling Australia’s GLBTI community a niche is (apart from being slightly offensive) just plain incorrect. If, by conservative estimations, the GLBTI population make up one in very ten people, then that’s a market of 2.2 million people – many of whom have money to burn and a keen eye for a steal.
As it stands, Pink Rewards is involved with a solid base of companies, which is already on the increase. Mulcahy mentioned the company was running with the line “Be rewarded for being you” and Time Out likes the sound of that. So get out that laptop and get a’ huntin.