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Tuangou, which translates as team buying or group buying (also known as store mobbing), is a recently developed shopping strategy originating in the China. Several people - sometimes friends, but possibly strangers connected over the internet - agree to approach a vendor of a specific product in order to achieve collective bargaining ( haggling ...
On Jan. 23, social network company Renren --famous for being the "Chinese Facebook"-- announced that Chinese search engine giant Baidu had acquired the remaining stake of Nuomi.com, Renren's group ...
They wanted to round up people to buy the same product in order to receive a group discount. Founder Eric Lefkofsky wanted the company to pivot in order to focus entirely on group buying. Born from The Point, Groupon was launched in November 2008. [15] [16] [17] The name for the e-commerce platform, Groupon is a portmanteau of "group" and ...
Collective buying power is the ability of multiple individuals or groups to buy goods or services in bulk and at quite a discounted price. This is possible due to the sheer volume of buyers, which drives down prices and allows each group or individual to benefit from economies of scale.
I write a lot about Groupon and the many Groupon clones because, well, I find the group-buying phenomenon all quite fascinating. So you can imagine that it would take a lot to drive me to the ...
You know an idea has arrived when it draws loads of copycats and sparks an emerging ecosystem of products and services that extend the idea and turn it into a full-fledged marketplace. eBay did it ...
In the United States, a group purchasing organization (GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. [1] Many GPOs are funded by administrative fees which are paid by the vendors that GPOs oversee.
Facebook dipped a big toe into the group discount waters on Tuesday, launching a five-city test of its Deals on Facebook service and pitting it against industry stalwarts Groupon and LivingSocial ...