Nowadays, it’s not unusual to hear Filipinos rabidly conversing about current deals they found on group buying sites, and for these deals to flood Facebook walls. Like soap operas, group buying sites have become an intense, overnight hit in the country. With more Filipinos becoming keener at spending less for more, it sure looks like group buying sites will be staying for good.
The Beginning
The emergence of group buying began with the launch of the American group buying site, Groupon, in 2008. Offering “50 to 90 percent off the best stuff your city has to offer” to its members, Groupon offers a vast variety of heavily discounted daily deals, ranging from wellness, travel, beauty products, and food, among many others. Today, Groupon operates off-shore sites in 44 countries, including the Philippines, under Beeconomic.
Since the birth of Groupon, group buying sites have taken on a viral hold on the world, spreading to thousands of markets outside the USA. Southeast Asia quickly followed suit, with countries like Thailand and Singapore providing advanced services and dropping the minimum-purchasers trend in group buying to reach bigger markets.
What is Group Buying About?
The concept of group buying revolves around the power of consumers to get incredible discounts through collective buying. That said, most group buying sites only authorize daily deals when a particular number, or minimum, of members have purchased the deal.
To allow customers to access more deals, many sites across the globe have revamped this minimum policy by setting a minimum number of days for purchasing deals instead.
Next stop: Philippines
Since 2010, several group buying sites in the Philippines have joined the bandwagon and started promoting exclusive deals for Filipinos. As in all similar entities, Philippine group buying sites operate by the principle of collective bargain buying, although like some of their Asian counterparts, a number of these sites permit more freedom by tossing out the minimum members policy. At present, around thirty Philippine group buying sites offer varied deals on restaurants, bars, vacation packages, beauty and wellness services, gadgets and leisure activities.
Since 2010, several group buying sites in the Philippines have joined the bandwagon and started promoting exclusive deals for Filipinos. As in all similar entities, Philippine group buying sites operate by the principle of collective bargain buying, although like some of their Asian counterparts, a number of these sites permit more freedom by tossing out the minimum members policy. At present, around thirty Philippine group buying sites offer varied deals on restaurants, bars, vacation packages, beauty and wellness services, gadgets and leisure activities.
Group buying sites allow Filipino consumers to avail of services and items at hugely discounted prices (some offering as big as 60%-80% off), which are not available elsewhere, not even in affiliate stores. This means more convenience for online shoppers, who can now access sale items and services without needing to wait for a bargain sale in malls or business companies. Through a simple sign-up process, customers receive a daily dose of promos straight to their email inbox.
Customer convenience is of utmost priority for group buying websites, and all of them maintain easy pay-out transactions schemes. Majority, if not all, accept payments through credit card and Paypal, as well as G-Cash and ATMs.
While many popular Philippine group buying sites such as Ensogo, Beeconomic, Metrodeal, Ebay Kuponan, Cash Cash Pinoy and Buyanihan offer endless variety in their deals, a number of sites offer unique, targeted items. For instance, Yuga Deals mainly provides gadget and techie deals, while Deal Grocer is centered on offering fancy restaurant dining and vacation packages.
Citypoynt: A New Fish
With this fresh, hot trend in marketing, a new group buying website, Citypoynt, has emerged among a sea of competitors. Officially launched in March 24, 2011, Citypoynt was founded solely by Filipino entrepreneurs, who go by the philosophy that “It’s easier to sell to someone when you already know exactly what they are looking for.”
Unlike most group buying sites, Citypoynt focuses on offering exclusive deals and discounts within the Philippines, and on connecting the local community with business groups. As such, the site is built with a business directory of extensive criteria – one of its notable differences from other similar sites – which enables consumers to reach businesses directly. While other group buying websites expend their efforts greatly on deals, Citypoynt.com ups the ante by featuring user reviews and ratings that help customers decide which deals are suitable for them.
Too, the website aims to promote not only the concept of group coupons, but also serves as a one-stop-shop/ resource guide on up-to-date trends in fashion, wellness and beauty. The website is equipped with a blog by fashion mavens Feanne and Erika Hoffmann, who regularly contributes to fashion and events magazines such as Preview.
Being one of the newest group buying sites in the country, Citypoynt’s website could still use a few tweaks here and there, but from a general standpoint, the site shows promise of doing well on its feet, considering it has only been sailing for three months.
For more details on Citypoynt, visit their website at http://www.citypoynt.com/
An Opportunity to Spend Well
In a time when economic downturn is at a high, group buying sites give Filipinos the privilege of being able to spend on things that they wouldn’t normally take a chance on due to costs. Now, even the minimum-wage worker can treat himself out for cheap hair and nail spa services, or good steaks that, without group buying deals, would normally equate to a day’s earning. An average office clerk can buy concert tickets or vacation packages to Boracay, Laguna, even El Nido, for an anniversary or a birthday, without having to spend a fortune. Group buying sites provide much needed pampering to hardworking Filipinos, even just on an occasional basis, without feeling guilty about it.
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Yes, I know dealspot. I bought a voucher from you guys already. Lol.
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