SocialBuy is a new “social buying” site offering vouchers for discounts on luxury products and services often from retailers that have never before discounted — but now must in order to stay afloat in this economy.
Naturally, the company wants to use social media to spread its social buying message.
That was interesting…
This is how it all works. SocialBuy negotiates “unbelievable local deals,” (currently only in San Francisco and Los Angeles, but more cities will be coming online soon). But the deals are only good if a pre-determined number of people opt in. Here, take a look at today’s deal in Los Angeles…
The retailer’s interests are protected through volume, which SocialBuy brings to the table via the social nature of the Web.
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About time! These sorts of buying clubs have been around for a while in China.
My in-laws in Shanghai used one a few years ago to finish their condo (bought as raw space) with everything from to lighting and plumbing fixtures, to flooring, to a cooktop, refrigerator and other appliances. But you can buy pretty much anything on them.
Behold the power of the collective!