Webpiggy launches social media-powered group-buying website in Toronto

Hoping to piggyback on the success and popularity of Groupon, Webpiggy is the latest group buying website to launch in Canada. 

Presently operating in Toronto, Webpiggy arranges one deep discount with a local business each day based on the concept of purchasing power- the deals only activate if enough people buy it. On the other hand, if there aren't enough buyers, no money exchanges hands and the deal is void.

Similar to other sites, offers are posted for a limited amount of time and rely heavily on word-of-mouth to recruit buyers. For businesses this is the best possible type of advertising – exposure to thousands of local consumers through email, word-of-mouth and social media as users talk about and share the deals online and offline with friends.

Is this the future of online shopping?  We'd love to hear your thoughts.