Group Buying

Topics: Online shopping, Electronic commerce, Retailing Pages: 3 (1021 words) Published: February 23, 2013
Name: Liu Sin Yuk
Student number: 114115

Cause and effect essay on group buying

What is group buying? This was a new term to people a decade ago. It means that sellers offer products and services with discount providing a minimum number of buyers would make the purchase. Group buying originated in China, and becomes so popular in the world in these several years. There are more and more group buying websites all over the world. In Hong Kong, there are also many group buying websites, such as Groupon, GroupBuya and Groupbuyer. The reasons for the popularization of group buying and the effects brought would be in the following parts.

Why does group buying gain popularity in these years? One of the reasons may be the technology development. In these several years there are great improvements in the electronic devices, the internet connection and the software. People can surf the net with their phones, tablet computers, notebook computers and desk-top computers. Together with the wide coverage of Wi-Fi, people can access the internet anytime everywhere. Besides, the software improves a lot too. There are many programs for commercial uses and software for compiling webpages available in the internet and their operations are very easy and convenient. People can easily make a website by themselves and start a business in the internet. The internet provides a platform for people to trade with others; the development of the electronic devices increase the ease and time people spend on surfing nets; and the software makes operating and online shop much easier than in the past. These developments in technology promote the appearance of group buying.

Besides, the merchants can advertise their products and services, to expand their markets and to increase their market shares through attracting more new customers by group buying. People who do not know or use the products and services of sellers before may be attracted by the discounts provided for the...
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