Group buying has emerged in recent years to become a major online trend. It has risen to influence online shopping in recent years to become a major player in the internet. So what is group buying anyway?
The idea for group buying started out in China. The concept is for a group of people to purchase products in exchange for a reduced price. A certain number of buyers would have to be met first before the prices could be reduced. The sellers are cutting their prices as if they are selling their products wholesale. They get a whole new set of buyers in exchange for slashing their prices. If they sell their products to individual buyers without an assurance of other buyers following, then they are bound to lose money.
There are numerous group buying sites that are now in operation. They work by offering a “deal of the day”. Once the number of buyers has been met, the site will then create a coupon that can be printed by the buyers and presented to merchants, who will then sell the product based on the reduced “group” price.
The local merchants benefit from the arrangement by getting a lot of buyers flocking to their stores, or at least that’s the idea. This kind of buying strategy was conceived in China were it has always been the practice to haggle for prices of different goods. Originally, the practice was to have a group of friends to come together and approach the merchant for a lower price of a certain product. With the power of the internet however, it became possible for complete strangers to come and meet together in order to demand lower prices. That idea was further improved when group buying sites came into existence.
Group Buying Coupons for Painting Services- Now group buying has been taken one further step. This is in the form of group buying coupons for services. Instead of buying products people are signing up for getting services of home improvement professionals such as house painters at reduced prices. It still follows the formula of lower prices for more buyers, but this time the buyers are in the form of clients and they are getting services instead. Everyone benefits from the scheme, the clients can get the services that they need from proven professionals and the services providers gets exposed to a broader market. Everyone’s a winner.
So if you need some form of home improvement service done in your place you might want to try out group buying to get it done.