Group Buying

Group buying, also known as collective buying, offers products and services at significantly reduced prices on the condition that a minimum number of buyers would make the purchase. Origins of group buying can be traced to China where 團購 (tuángòu) or team buying was executed to get discount prices from retailer when a large group of people were willing to buy the same item.In recent time, group buying websites have emerged as a major player in online shopping business. Typically, these websites feature a "deal of the day", with the deal kicking in once a set number of people agree to buy the product or service. Buyers then print off a voucher to claim their discount at the retailer.
Posts about Group Buying
  • The Growing Market for Networked SMB Software

    … big is buying big. The largest companies can buy in bulk, netting big discounts from manufacturers. It’s why Wal-Mart can sell a television far below market value and still make a profit. Co-ops have been around for a while, but today, business systems could bring them back better than ever before. Shopkeep, for instance, could hypothetically offer…

    Steven Jacobs/ Street Fight- 4 readers -
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