Question

Buyline is an e-commerce web site. it has come up with a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced. in this case, it is evident that buyline is a _____.

a. group buying platform

b. peer-to-peer e-commerce platform

c. participatory e-commerce site

d. social networking sit

Answer 1

The answer is a group buying platform.

A group buying platform is a type of online shopping website that offers discounted prices for items that are bought by a set amount of buyers. This practice was first recorded in China, where it is called Tuán Gòu.

Many Chinese online marketplaces use this style of purchasing until now. The discounted prices are usually very significant compared to the original price.