Group buying sites are the latest trend in online buying. They work like this: a merchant offers a “deal” for goods or services online. In order for the “deal” to go active, a minimum number of consumers must buy it. Once the “deal” is active, consumers buy them direct from the ecommerce site. The number of “deals” available is limited, as is the time the “deal” is active.
Once purchased, the consumer takes the “deal” to the merchant for redemption. This works similar to a coupon at a grocery store. The merchant exchanges the “deal” for the goods or services purchased. The merchant then turns the “deals” into the ecommerce site and is given a check for the amount of the “deals” minus an administration fee.
For consumers, group buying sites offer a number of features:
For merchants, group buying sites:
Group buying sites are often available as phone apps, allowing savvy consumers to make purchases of goods and services as they see the need for them. Regular newsletters inform consumers of new deals and new merchants. This increases brand awareness and impulse purchases on the part of the consumers.
Since “deals” must be used in a specific time period, this allows the merchant to better project sales for that period and schedule personnel during busy times. Bringing in customers during traditionally slack times makes better use of staff and facilities, as well.
As you can see, ecommerce sites offer something to the consumer and the merchant. Group deal clone is an ecommerce software that runs on a Magento Ecommerce Platform. Installation and six months of tech support are free. For more information on group deal script and ecommerce, check out our webpage.