Group buy is a concept fairly familiar to me and I used to love LetsBuyIt.com when it first kicked off in the UK around 1999. I bought a lot of stuff from there and it was a great place to shop for gifts as you could find some really unique stuff.
The group buy theory basically works on the concept of economy of scale, so the more people buy something together (in a ‘group’) – the cheaper it becomes. That is the premise MYDEAL operates on. You can find the details on How it works here.
The deals they’ve had so far are certainly brands you will have heard of such as Isetan, Coffee Bean, Parkson, Guardian, Nando’s and many many more. A list of the Past Deals is here – as you can see most discounts lay in the 50-70% range.
Also bear in mind that each deal is time-limited and has a finite quantity which makes it more exclusive. Plus the fact that it is time sensitive means you have to jump in fast to make sure you benefit from the savings offered.
So far the deals are of a nominal value but as the site grows, gains a larger user-base and more leverage the deals will get bigger and the discounts larger. So do head over to MYDEAL, sign up and grab some great savings.