28 Mar '11, 1am

Group buying craze electrifies e-commerce in China

Group buying craze electrifies e-commerce in China

BEIJING - Like millions of Chinese, Liu Wen has fallen in love with group buying, which has electrified e-commerce in a country where getting the best possible discount is virtually a national pastime. "My first experience was buying a beauty salon coupon. I just wanted to try it and it was great value," the 24-year-old children's chess teacher told AFP. "Ever since, I've gotten in the habit of using it to buy meals every time I go to a restaurant," she said. In group buying, websites offer goods or services at a special low price, but on the condition that a minimum number of customers get in on it. Thanks to the Chinese zeal for a bargain and the country's huge Internet market -- its online users are estimated at more than 450 million -- practically anything can be bought or sold or here. On the country's first site, lashou.com, buyers can purchase DVDs, sweets, beauty c...

Full article: http://www.channelnewsasia.com/stories/technologynews/vie...

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