Group Buying

Group buying is when a product is offered at a reduced price if the product is bought by a minimum number of buyers. The concept of group buying can be traced back to China. The same idea is taking over e-commerce. Pinduoduo, a Chinese e-commerce platform is bringing this idea to the mobile-first world. The WeChat platform in China is crucial for enabling such a buying experience. Buyers can easily forward good offers to their friends via WeChat and if they ended up buying to together, both would receive an offer. This is takes into account of the use-case where you would like immediate feedback from your friends prior to a purchase. Amazon and other e-commerce platforms do not account for this. This well crafted feature has led to the embedding of virality into the e-commerce buying experience.

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