Group Buying Explained
What is it and how does it work?
These are a few questions we get asked quite regularly, so we’ve put together this quick rundown on what group buying is and why it rocks.
“Group Buying” or “Collective Buying” to get cheaper prices on something isn’t a new concept and it has greatly impacted the way people purchase or consume products and services all around the world.
Group Buying (not to be mistaken with Co-Buying) is when a group of like-minded, serious buyers come together to jointly purchase an item or a service in bulk to lower the per unit price.
Buying items or services in bulk captures the benefits of economy of scale, which means paying a lower price per unit than usual, in exchange for buying much greater quantities than usual.
So basically, the more you buy, the less you will pay.
The discounts received from collective buying power can only be redeemed when a certain number of people agree to buy together.
Most people don’t have the resources or it isn’t practical for them to buy large quantities on their own, so group buying provides them with an opportunity to be able to benefit from bulk pricing.
The savvy buyers and the money saving enthusiasts among us have been taking advantage of these purchasing methods for the better part of a decade, with apps such as Groupon remaining as popular as ever. People are now understanding the benefits and working together and purchasing items collectively to secure better pricing.
We have adopted the proven model of group buying and applied it to new vehicle purchasing, creating our very own, unique, car buying platform called “BuddyBuying”
BuddyBuying is new car group buying and group buying is an extremely effective method to reduce the price of new cars.
BuddyBuy invites like-minded buddies to come together and buy new cars in bulk.
We let the people power and group buying do the negotiating for us, securing bulk discounts for our clients that they can’t get on their own.
Individuals pay more, BuddyBuyers pay less.
If you’re interested in saving some money on your new car by group buying it, get in touch today and let us help you.