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

    … a group buying program for coffee shops on its platform, algorithmically identifying when participants in a general vicinity are running low on a given product. Capital: Despite a steady recovery in the financial markets, it’s still harder than ever for small businesses to secure capital. According to data from the Wall Street Journal, the number…

    Steven Jacobs/ Street Fight- 11 readers -
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