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Social buying gives buying power to the consumers, but is this really a new trend?
by deramojd on Aug 4, 2010
In addition to becoming a daily ritual for millions worldwide, social media sites like Facebook, MySpace, and Twitter have spawned additional trends, most notably, group or social buying. But is this really a new trend or simply a different spin on what membership clubs like DirectBuy, or wholesale membership clubs like BJ’s, Costco, and others, have been doing for decades?
For those of you not in the know, each day group buying sites like Groupon.com, LivingSocial.com, and many others advertise products or services at deeply discounted rates. Usually the offerings are for a specific geographic region (e.g. - a day at a local spa); however, the discount only becomes valid when a pre-determined number of buyers has been reached.
“The Internet has made the world a much smaller place and it’s helped consumers realize that there is strength in numbers and they do have far more bargaining power than they realized,” said Sara Shragal of DirectBuy....Read More >>
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