Group Buying

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Definition

Group Buying platforms allow businesses to offer services at a steep discount, allowing the concern to recoup some of the funds lost when services (plane seats, hotel rooms) are not used. The discount is received by the buyer when a minimum number of users buys the same product within a timeframe. Group Buying platforms are social, allowing new users to discover the products and services offered and share their finds on social media. Those owning the platform earn a percentage of each sale made by the business.

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Products

Groupon is a group buying service. Groupon subscribers receive deeply discounted coupons for local goods and services in their email boxes, but those who click to buy the deal don't receive the deal until a predetermined quantity of other subscribers...
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