Live in a big city? Check out Groupon.

“Deal of the day”-type websites seem to be all the rage right now, with Woot leading the pack as the first and one of the best.  Recently a newer site called Groupon caught my attention, and I thought I’d give it a further look because it puts a social spin on the whole idea.

The site touts itself as “collective buying power”, and here’s how it works:

1. The site includes 48 of the largest cities in the country, and each offers its own deal each day.  This obviously eliminates much of the country, but if you happen to live within some distance of one of these metro areas, you’re in luck.
2. Each deal requires a certain number of people to purchase before it actually goes through.  For instance, a recent deal for $20 worth of food for $9 in Columbus, Ohio would only become finalized if 250 people went for the deal. Here are some other recent deals from Columbus.
3. To get people to participate and share with friends, each deal can be posted to Facebook, Twitter, and even your ol’ email.

It’s also a big win for local businesses because they get the opportunity to be seen by a lot of people at a relatively low cost.  We’re about 2 hours away from Chicago, so I’ll probably keep tabs on those specific deals for a future trip down there.  In fact, a recent Italian restaurant deal on doesn’t expire until July, so these offers can potentially have some shelf life for a future vacation.  Each city can provide daily email or RSS notifications, and the site has a presence on Facebook and Twitter as well.

The most interesting aspect of Groupon is the social power that it employs to get the job done.  It just shows that if you’re tapped in the networks that are out there, you’re going to find some excellent deals, and… why pay more than you have to?