Group buying is successful because it is based on a triple-win concept — a win-win situation for all three parties. Merchants benefit from the “free advertising” to the website’s registered users and new customer acquisition, customers get good offers, and the group-buying website gets a cut from coupon sales. Group buying gains momentum in Malaysia - Source from Theedgemalaysia.com
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 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. Many of the group-buying sites work by negotiating deals with local merchants and promising to deliver crowds in exchange for discounts.
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