Want to buy products at a discounted price but can’t wait for occasional sales? Well, participating in a group buy can help you grab quality products at unbelievable rates! Hence, you no longer need to wait for sales or arrange a particular bank’s debit card to get the price concession on your purchase.
To provide you with a basic understanding of the benefits of a group buy, we have explained some points below. But, first of all, let’s take a look at what is a group buy.
What is Group Buy?
Group buying is a shopping approach in which many individuals shop for the products collectively to get them at discounted prices. The manufacturers are also benefited from this approach as their items get sold in bulk amounts.
In this practice, there is a host and other members in a group. The host is the group leader whose responsibility is to add more and more members to the group up to a certain limit. Once a specific number of members are completed, the respective items are sent to the host.
Afterwards, the group members can make arrangements to collect the product from the host at their convenience. However, in some cases, the host also gets the product delivered to the group members. It depends on the preferences and understanding of the group members.
Group buys are majorly operated via online communities on social media platforms like Facebook, Telegram, Whatsapp, etc. It is one of the effective ways of getting the required products at highly discounted prices.
Top Benefits of A Group Buy
Great Savings and Discounts
Everyone wants offers and discounts, using which the required items can be purchased at value-for-money rates. In group buying, the customers don’t have to look for offers or discount coupons to get an item at a low price. Because the respective commodity is already listed way less than the retail price.
The manufacturers are able to provide the items at such a low cost by selling them in bulk. So, as long as the minimum number of buyers join the group, you are assured of getting a huge discount. It helps you get the best value out of your shopping budget.
Get Unique Products
Not all products are available on regular online shopping platforms. Group buys are a good method to get unique products that are unavailable otherwise. Retailers and manufacturers become ready to sell their items as they get the assurance of bulk purchases with the help of group buys.
Moreover, the group members can reach out to the host and request for sourcing a unique item that they require. This way, group buys not only save money but also let you buy your favourite products.
Supporting Small Businesses
It is difficult for small businesses to survive in the market during their initial phase. The reason is that unless they have a minimum order amount, it is not feasible for them to provide items and stay profitable. In short, they can only run their business if they have a minimum number of orders from customers.
Group buys are perfect solutions for such businesses. As the items are sold in bulk in this shopping model, the manufacturers get the opportunity to kick-start their businesses. Therefore, group buy is beneficial for both parties. The customers have good discounts and the business owners get initial exposure & sale for their products.
Convenient Delivery and Collection
In group buying, the host is responsible to get the items delivered to all the group members. According to their convenience, the customers can either self-pick up the item or get it delivered to their home, office, etc. Besides, they can pick up the item from their friends’ and relatives’ houses if they live nearby the host.
Furthermore, the group members can communicate with the host to discuss the most convenient way of sending them the item. Thus, you don’t need to compromise on the delivery experience to get the products at discounted prices.
Additional Income For Hosts
The hosts manage a lot of responsibilities in a group buy. From promoting the product and adding more members to the group, to sending the items to each buyer; there is a lot of work.
The hosts can charge a little commission from both customers and retailers to get a monetary return for their efforts. If an individual devotes time and gains experience in group buying, they can start earning a good side income. Hence, as a group buy host, you get the opportunity to help others save on shopping and earn at the same time.
Develop Good Relationship With Neighbours
With the help of group buy, people living in a society or colony can connect and develop healthy relationships. The group members and the host get the chance to interact with each other at the time of item collection.
For example, the people living on the same floor in a building can collect the products from the host’s house. It helps them know each other in a better way and creates good bonding. This way, group buy can improve your social relationships.
After going through the above benefits, one can easily conclude that joining a group buy can save a lot of money for the buyers. With unique products, huge discounts, convenient collections, and additional income opportunities, they are one of the best shopping methods. However, one should only join one after verifying and checking the legitness of the group.
There are numerous online groups on social media platforms that offer group buy services. You can search for the ones that operate in your location and provide the type of product that you want. Afterwards, you can join and get the item when the required number of group members is completed.