Global Group Buying Market Overview:
Group buying models provide great deals for consumers, the technology enables helps millions of users to access great discounts from manufacturers by agreeing on certain amounts. These teams are getting discount from sellers when a large number of people buy the same item. Group buying is known as collective buying, offer products and services at significantly reduced prices on the conditions on which the minimum number of buyers would make a purchase. The origin of group buying is from China.
As per latest study released by AMA Research, the Global Group Buying market is expected to see growth rate of 20.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increase group buying offers majorly in credit card purchase
Market Growth Drivers:
An increasing number of e-commerce players across the globe and The growing number of application services from various sectors
Challenges:
Lack of consumer awareness
Restraints:
lack of trust among consumers in certain markets
Opportunities:
Advancement in the logistics industry and Growing concerns about product promotions from retailers
Competitive Landscape:
The global group buying market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
Some of the key players profiled in the report are Groupon (United States), GoodTwo (United States), Meituan Dianping (China), Alibaba (China), LivingSocial (United States), Woot (United States), 1SaleADay (United States), Ruelala (United States), Hautelook (United States) and Amazon (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Group Buying market by 2030. Considering Market by Service Industry, the sub-segment i.e. Food & Beverages will boost the Group Buying market. Considering Market by Platform, the sub-segment i.e. Online Platform will boost the Group Buying market.
Latest Market Insights:
In December 2021 ,Security and community management start-up MyGate has acquired MyCommunity Genie, a Bengaluru-based social commerce platform, in a part-cash, part-equity deal.
In March 2021, Ozon is the first among Russian marketplaces to launch a group buying service, which allows sellers to sell large quantities of goods from 10 units and up. Customers will be able to make group purchases at discounts starting from 20%.
What Can be Explored with the Group Buying Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Group Buying Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Group Buying
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Group Buying market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Group Buying market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Group Buying Service Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.