Magazines Archives - 2011 Feb

Group Coupon Buying …
Part 1: What’s the big deal? Is it hype or buzz?
Story 1 - One Viewpoint

Online group buying sites have exploded on the consumer marketing domain as the new hotshot. Essentially, it is a business where the sites engage in aggregating individual consumer purchases among members of a group to buy goods and services. These sites leverage the collective bargaining power of the consumer groups to secure hefty discounts from merchants and then package them into compelling deals for consumers. Analysts have pointed out that this coupon voucher scheme has something not available in the old days — the might of social media networks. So, group buying sites have proliferated in awesome fashion. Are they potentially a lasting phenomenon or just a bubble waiting to burst?

by Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

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