Group Buying Power. The Hottest New Way To Live It Up For Less

Group Buying Power

Group Buying Power. The Hottest New Way To Live It Up For Less

One of the following is true:

1) You've recently heard of Groupon

2) You will soon hear about Groupon.

(and I don't mean by reading this article... you won't be able to avoid them. Fact.)

How can I be so sure? Because Groupon is the pioneer of a new way of saving money on cool stuff, and everyone everyone likes saving money on cool stuff.

This new discount method is called Group Buying Power' and power is the right word. It's a win-win way of organising money-off deals, where Groupon (or another similar outfit) arrange with a company, such as a restaurant, beauty salon or cinema, for a time-limited discount to be offered to the general public.

For example, the restaurant chain Zizzi might say, OK Groupon, we want 1000 new customers, so we'll say you can offer your users a voucher for 70% off meals at our restaurant. They buy the voucher from you for, say 6, and for that, they get 20 to spend with us.' Zizzi wins by getting 100 new customers, Groupon wins by splitting the proceeds of the voucher purchases with Zizzi, and us? Well we get 70% off a lovely meal out!

And 70% off is not unusual. In fact the discounts you can get with group buying power are typically 50-90% off normal price.

That's why Groupon is the fastest growing company ever. (That's not an exaggeration. Read this article from Forbes about how their growth is leaving the likes of Google and Amazon in the shade.) And that's why you've either heard of them already, or pretty soon you'll know them very well indeed, because like me you'll be taking advantage of some irresistible deals and living it up for less.

Now my admission of vested interest. I run a website that shows you the best group buying power deals every day in your city (UK) both from Groupon and from the other group buying power providers. It's called City Treats, it's great, and here's the link for your City Deals.

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