Group Buying is taking over the Internet, and I love it! Group Buying is the process where a group of people get together to make a bulk purchase of the same item and share the discounts they receive for buying the items in large quantities.
There are now various online websites offering to automate this process. One of them is Toronto-based TeamBuy.ca, which has finally launched it’s service in Winnipeg after being successful in other markets.
HOW DOES IT WORK?
You register for a TeamBuy.ca account and they offer daily Team Buy deals at amazing prices. Example: a $45 gift card for only $20. If the deal interests you, you can commit to buying it buy entering your credit card info. However, the deal isn’t activated and you aren’t charged until a certain number of registered users have committed to the deal. One the minimum number of people have committed to it, then the deal goes live and everyone gets $45 gift cards for only $20. If the minimum amount of people isn’t met, then your credit card isn’t charged and no one gets the deal. Watch the video after the jump for a more detailed explanation.
Today’s TeamBuy.ca deal is a $45 giftcard to 4Play Sportsbar for only $20. At time of posting, there is only 1 person committed to the deal (2 after I complete the steps). Remember, the deal doesn’t go live until a minimum amount of people commit to it. In today’s deal, it is 20 people.
There is also a side deal for a FREE ice cream at Marble Slab Creamery. Good luck, and be sure to share your experiences with us!
Thanks for the tip Theo.
[flv]http://www.teambuy.ca/animation.flv[/flv]
Image Buy More Stuff, Black Friday 2009 Originally uploaded by Michael Holden
