Walmart.com Moves In On Groupon

Look out, Groupon! Walmart.com is muscling into your space.

The retail giant says it's launching a deals app called CrowdSaver. It unlocks an online-only discount once enough consumers opt in, similar to the group deals Groupon has popularized.

Walmart said it took less than 24 hours from the time it launched CrowdSaver until it hit the deal threshold of 5,000 "likes," which triggered a discount of 18 percent off a $500 plasma TV with wall mount.

Crowdsaver puts "you in charge of lower prices. If the deal gets enough likes, the price drops for everyone," said a posting on Walmart's Facebook page. The company didn't announce the program through its regular p.r. Channels, instead rolling it out on Facebook.

Walmart explained the program this way on its Facebook page: " If the deal gets enough Likes, the price drops for everyone. Our first deal is the Element 42" Plasma TV with Wall Mount. Get it for $398 instead of $488. Only fans get to vote, so rally your friends to Like it too!"

Be sure to read the fine print, which says: "The CrowdSaver price is only available if the required number of 'like' votes is met. This threshold of required votes may vary for each CrowdSaver item. Each customer may only vote to 'like' an item once. CrowdSaver prices are only available at Walmart.com. Each customer may purchase only one item at the CrowdSaver price while supplies last. The price is available until we sell out of the item online."

Groupon, a Chicago-based start-up, has grown exponentially with its model, which is a local version of CrowedSaver.

Groupon triggers discounts and coupons for local businesses once a pre-determined number of people commit to an offer. Once that number is reached, customers pay upfront, print a coupon and redeem it when they're ready.

Groupon has been quietly experimenting on national, CrowdSaver-style, deals as well. In August, consumers spent $11 million to buy Gap coupons.