The idea of group buying is not a new thing in business circles as many businessmen have been doing group buying on overseas purchases. However, the concept is still new and few people are learning how to take advantage of this useful platform.
The idea for home goods group buying started when mothers in China wanted to buy diapers and figured that if they bought directly from the factory in bulk, it would be cheaper.
There was a clincher. The diapers had to be non-branded products. It did not mean that the products were sub-standard. They simply figured that regardless of brand, all the diapers were made in the same factory but once they were stamped with a famous brand, they became much more expensive.
So a mother started a blog, looked for prospective buyers and once she had the numbers, she placed a bulk order. It worked, hence the roots of group buying.
The idea however has been successful in just a few countries among them China and Canada. Group buying has never been a technology issue. The technology exists, and it works well.
This platform if looked at carefully, could help many people access very helpful goods for low prices. Purchase of sanitary towels for girls in school for instance and purchase of toilet paper can easily be done through group buying. Individuals who want to buy items from abroad can also team up and get more value from group purchasing. It is a great money saver, if done within legal provisions.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
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