[Correction: Post updated to reflect the fact that Amazon's deal was one of the fastest-selling in daily deals history, but not the fastest. A LivingSocial promotion for Whole Foods sold 1 million vouchers in 14 hours.]
Amazon got lots of attention yesterday with its offer of a $10 gift card for $5 through its AmazonLocal daily deals service — so much attention, in fact, that it was among the fastest-selling daily deals in the history of the industry, dating back to October 2008.
That’s the word from Savvr, a daily deals analytics service, which reports that the cards sold out, reaching at 1 million units, in 17 hours, 12 minutes. It was a savvy move that could give AmazonLocal a boost, explains Savvr’s Tim Elliott in the post, noting that the average cost of acquiring a daily deals subscriber is about $5, based on Groupon’s public data and other industry stats.
Elliott writes, “Amazon not only paid that amount but they also acquired substantially more valuable subscribers: Customers who are known to make purchases online and now these customers can place 1-click orders as well. These subscribers are substantially more valuable than a regular list subscription that may never materialize into a buying customer.”
Amazon’s latest offer was similar to a past deal offered by LivingSocial — selling a $20 Amazon gift card for $10 — following Amazon’s investment in the company. That deal attracted more than 1.3 million buyers.
AmazonLocal launched in June 2011, less than a year ago, and currently offers daily deals in 26 states and Washington, D.C.