Tesco taps into co-buying power
Tesco has launched a website that allows customers to buy cases of wine at discount prices through an emerging e-commerce model called co-buying.
The UK’s largest retailer has teamed up with co-buying specialist Buyapowa to launch the site, which is designed to harness the group buying power of consumers.
Shoppers register an interest in a case of wine and state the maximum price they would be prepared to pay for it.
As other shoppers decide to buy the case, the price falls and continues to fall as more people sign up for the deal.
The shopper that recruits the most co-buyers gets a free case of wine. The deals last for a limited amount of time or until stock has run out.
Payment is taken when the co-buying session closes.
Tesco director of digital and social Tom Daniell said: “This channel really puts customers in control – from determining the final price, to telling us the products they’d like to see featured.
“There’s a real social element to traditional shopping and there’s no reason why shopping online shouldn’t be just as fun.
“Family and friends love to shop together and seek out a bargain and co-buying lets customers easily share deals online and use collective buying power to get a great deal.”
Buyapowa said it hoped to team up with more drinks retailers in the UK.