what is community group buying (cgb)? - Business Standard

Group buying or community group buying (CGB) model is referred to as another form of e-commerce where the minimum number of consumers buy goods and services ... Home Markets Companies Opinion Specials Tech PF Portfolio TMS Coronavirus Sports Elections Today'sPaper LatestNews Economy Finance CurrentAffairs International Management Strategist Weekend DataStories BSReads News Stocks Commodities IPOs MutualFunds MutualFundTools Derivatives BSFundManager News Results FinancialX-Ray Auto Engineering Financials Infra IT Oil&Gas Telecom Services AllSectors EditorialComment Columnists BSSpecial BusinessLaw&Tax Lunch Poll PE/VC SME B2BConnect SponsoredContent News Reviews Launches Specials News Features Investments Loans&CreditCards Tax Insurance FinancialTools IPL2022 UTTARPRADESH PUNJAB UTTARAKHAND MANIPUR GOA Youarehere»Home»Group-buying WHATISCOMMUNITYGROUPBUYING(CGB)? GroupBuying Follow Groupbuyingorcommunitygroupbuying(CGB)modelisreferredtoasanotherformofe-commercewheretheminimumnumberofconsumersbuygoodsandservicesatreducedprices.Alsoknownascollectivebuying,theconceptofgroupbuyingworkslikecooperatives,wherealargenumberofpeoplebuyfromamerchant.   GroupbuyingisapopulartrendinChina,whichhasoneofthehigheste-commerceusesintheworld.LargeplayerssuchasPinduoduo,Meituan,andDidiarecompetingwitheachothertotapthismarket. Thise-commercemodelutilisesthepowerofbuyinginbulksothatboththeconsumerandthevendorbenefitsfromthetransaction.   Thegroup-buyingsite,afternegotiatingdirectlywithmerchants,selectsandadvertisesanofferforadaytoitssubscribers—typicallyahotelstay,arestaurantbooking,anexcursionora'spaday'atanattractive,one-offprice.Thedealisonlyavailableforashorttime,oftenjustoneday.   Consumerscanavaildiscountedpricesontheirpurchaseswhilemerchantsreducelast-miledeliverycostsandsellproductsinasingletransaction.Aparticularfeatureofthegroupbuyingconceptisthevalueitofferstolocaladvertisersandbusinesses.   Group-buyingoperations,typically,expandcitybycity.Thisisbecausedealshavetobelocal.Businessesfromspas,restaurantsandadventuregetawaysactasthemainsourceofsuchoffers.   DealShareisknownforpioneeringtheCGBmodelinIndia.Italsoallowsacoalitionofpeople,oftenlivinginoneresidentialblock,toobtaindiscountsbypurchasinggroceriesandotherdailyessentialsinbulk.Thepracticeisusuallyorganisedbyacommunityleadersuchasalocaladministratororevenaconveniencestoreowner.   Groupbuyingsiteslettheirmembersknowaboutadealthatisonofferbysendingemailsoreventextmessagesontheirmobilephones(ifthenumberisshared).Usually,groupbuyingsiteshavedealsindifferentpartsofacityandtrytocoverlocalbrandsandeateries.   Socialnetworkingisoneofthebiggestplatformsforcommunicationandgroupbuyingsitestakeadvantageofthiseffectively.    ReadMore.. LATESTUPDATESONACADEMYAWARDS(OSCARS) Noarticleavailableinthiscategory. × Youarenowfollowing"Groupbuying". Youwillreceivealltheupdatesonthisaboutpageinyourmailbox. YoucanbettermanagenewsalertsandUnfollowthisaboutpageonthe yourManageMyAccountpage. Thisservicerequiresyoutoregisteronthewebsite. RegistrationisFreeandsimple. Login Register