First of all, if you will be leaving a comment so you can build some links, please at least have the manners to pretend to have read my post and leave meaningful content. Do not just blindly announce your product site and expect me to not filter away your SPAM. Thanks for the respect.
What is Group Buying?
Where sites collaborate with companies to bring offers at a discounted price to a limited number of consumers. Win-win-win situation: companies get sales and brand exposure, consumers get a deal at a cheaper rate, site earns commissions for referral sales being the middle-man.
It could be possible that this was inspired by the intention to solve the inconvenience of mass orders – where a person would organise, coordinate and consolidate orders from other buyers into a single, high-volume purchase in order to enjoy bulk discounts.
I’d say this is a milestone for eCommerce.
As of 2010, many business models for collective buying have sprung up in Singapore, and probably all around the world as well. It is currently the big hype in the Singapore digital scene – especially with strong social media presence, Facebook and networking sites help them reach out to their customers easily.
- inSing Superdeals
- TakeMeTo Deals
I’m wondering though, there are so many such sites yet the number of competitors are still rising. Could this be a proven and workable business model? Any takes?
[Update] Truth is: This list is probably not very updated because new deal sites spring up almost every week. It’s also frustrating to have to visit many different deal sites to browse for discounts – hence check out Dealzilla.sg for a list of all available deals in Singapore.