Collaborative Buying

Collaborative buying is a purchasing strategy where individuals or organizations come together to buy products or services collectively. By pooling their resources, they can negotiate better prices and terms with suppliers, benefiting from economies of scale. This approach is often used in business groups, cooperatives, or online platforms where users share information and make collective decisions. The goal is to maximize value by leveraging the combined buying power, leading to cost savings and improved purchasing efficiency. Essentially, it’s about teamwork in shopping to achieve better deals.