Source: Yiwu sourcing agent Author: Helan Date: 2012-02-26
Group buying which allows customers to purchase goods at significantly reduced prices on the condition of a minimum number of buyers has reached storms across mainland cities, spreading from the first tier to second tier, and coastal cities to inland cities. Hong Kong is also affected by the popularity.
At first, it was said that group buying wouldn't be accepted by HK citizens because the Asian financial center had the shopping tradition of going out and the retail industry is really mature in this place with the famous shopping landmarks like Causeway Bay and Mong Kok, the most popular resort destinations for travellers around the world, especially the mainland buyers. But later it was proved that the pessimistic thinking was wrong.
Two mainstream well-known group buying websites were established following the new consuming style, named Groupon and Beecrazy, of which the first one was the pioneer and giant in the emerging industry originated from the US. Beecrazy was some kind of a more localized collective buying company with the headquarter located in Cheung Sha Wan, northwest of Hong Kong.
The most significant difference between mainland grouping buying companies with their counterparts in HK is their attitude towards goods on shelves. Both Groupon and Beecrazy set a strict standard to decide what goods or services could be on sale on their websites. The eligible goods should be of high quality and have a good reputation in its past operations. Luxury brands like Dior, Prada, Hermes and Salvaotore Ferragamo are also available on the websites with certificated paper, guaranteeing the quality of these costly merchandises. Catalogue of luxury goods includes handbags, wallets and jewels, sold at 30% off the original prices or more discount. Sometimes these hot goods would be out of
stockafter being posted for only thirsty minutes because of limited quantity.
Today, a silver Dior necklace with flowers decorated sells at only HK$999 compared with the original price of HK$2000 showed on its official website. For customers who are eager to own luxury goods but earning not so much money, it's a perfect way to make the dreams come true, and the company also earns money. A handful of merchandises would be updated at 12:00am every day to promote new items except for the weekend as the public holiday. Consumers feel really excited at the time when new items are launched, saying it's just like opening the legendary Pandora's Box. You would never know what is waiting for you.
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