The rising trend of group buying has also lead to something called social buying. Social buying is where the social network of an individual comes into play in influencing him/her in the buying decision. The group buying websites are using the power of social buying by allowing one to share the deals on their social networking pages like Facebook and Twitter.
Group Buying – The Power of Numbers
Group buying has become a successful practice now. The concept behind this practice is to earn profit through numbers rather than the profit margins. This practice keeps the businesses in profit and at the same time reduces the cost of purchase for the customer, and in this way both the parties are benefited.