collective purchasing

Collective purchasing is when a group of individuals or organizations join forces to buy goods or services together. By pooling their resources and negotiating as a unit, they can secure better prices and terms than if they purchased individually. This approach is often used by small businesses, cooperatives, or community organizations to leverage their combined purchasing power, leading to cost savings and enhanced buying capabilities. It’s a strategic way to maximize value while minimizing expenses, benefiting all members involved in the group.