Have you heard about group buying sites? Compared with the other trends in the internet, it is a relatively new thing. It is a way of online shopping that is making a big mark right now.
The Roots of Group Buying Sites- Like most of the things that can be found on the web, group buying sites has its roots from everyday life. It started out in China where it is part of the culture for haggling over prices of almost any item. The idea then was for a group of people who wants to buy a certain product to come together and ask the merchant for a lower price for the item. Since there are a lot of buyers, the tendency is for the merchant to lower down the price of the product, making it available for more people. Both sides win in this arrangement since the buyers get the product that they want at a lower price than the original and the merchant gets to sell more of the product.
The idea was too good to be passed on and soon it was adapted for use on the Web. People started by coming together through the internet and then they would approach a merchant. Soon however websites that were purely dedicated to group buying were created. These sites would offer a deal for a certain day. If enough people would agree to buy the product it can be made available at a greatly reduced price. The site then publishes a coupon for those who have agreed to buy the item and they can print it out. They can take the coupon to the nearest participating merchant and buy the item at a greatly reduced priced. The websites are in partnership with the merchants who usually agree to the arrangement because they get more customers to buy their stuff that way.
Group Buying Sites for Home Services- Now there is a further refinement to that process. That’s group buying for home services. The idea is the same. Customers agreeing to purchase something at a greatly reduced prices. The deal works once a specific number of buyers have been met. In this case however, what is being bought is not a product but home services. Those who want to have their house painted for example would all agree to hire specific painting services. The business makes their service available at a greatly reduced rate to those who agree to hire them. Everybody’s a winner!