Great Business Deals

The concept of collective buying or group buying from a supplier is not an entirely new concept, although it has been largely popularized and simplified with the advent of the internet, social media and the emergence of websites such as Groupon. The origins of collective buying can be traced back to China where small businesses would club together before approaching a supplier or retailer to make a group purchase on a specific product at a largely reduced price due to the bulk quantity of the purchase. This practice was known by the Chinese as tuango (pronounced twangoo).