This is NOT a sponsored post. I just think this a brilliant concept! Stay with me, please read it – this could be such a cool thing for us as a community!
Edit: I had scheduled this post for tomorrow morning, but I just had to put it up now because the current co-buy is for the BeneFit Smokey Eyes kit. How relevant! To learn about co-buys, read on!
You may have already heard of BuyaPowa.com – Charlotte (Lipglossiping) blogged about the site a few weeks back. That was where I first heard of it, but for those who aren’t familiar, I am very excited to introduce you to BuyaPowa and their invention of ‘co-buys’!
Let’s break this down. BuyaPowa are a site that bring us, the average everyday consumer, the bulk-buy discounts that retailers receive. This isn’t an entirely original concept – there’s plenty of group buying websites already that offer large discounts (think Wahanda mobdeals and Groupon offers and the like). BuyaPowa do things a little differently, though. Let’s look at how:
:: The more people join a ‘co-buy’, the lower the final price becomes. This is what’s fundamentally different about BuyaPowa when compared with other group buying sites.
:: BuyaPowa’s co-buys are focused on physical products, rather than other group buying sites which more often than not tend to offer experiences and spa days and what have you.
:: There is no limit on what co-buys BuyaPowa can offer. You and I will mostly be interested in their beauty related co-buys (which they are trying to make a really big part of the site, hence reaching out to bloggers), but if you’re in the market for almost anything BuyaPowa could be great for you.
:: You can request co-buys! If there’s something you want, but don’t want to pay the RRP for, you can simply request it on BuyaPowa and if enough people on the site back up your suggestion, the BuyaPowa team can begin the process of hunting down the particular item and setting it up as a co-buy.
:: And, potentially one of the coolest things (and biggest incentives) – the person who brings the most fellow buyers to a co-buy receives the product for free!
Now, let me explain how the ‘prices drop as people shop’ thing works. There are three price drops, and the obvious goal is to get enough people to join the co-buy that the third price drop (and therefore the lowest price) can be achieved. Typically, there will be 100 units of each product to be sold. If between 1 and 24 people join the co-buy, they will pay BuyaPowa’s starting price for the item (which is already lower than RRP). Once more than 25 people join, the price will drop some. At 50 people, it will drop again. At 75 people (up to 100 when the items sells out), the third price drop will happen and everybody receives the product at BuyaPowa’s best price. A good beauty-related example of this is the new Nails Inc magnetic polish that was offered as a BuyaPowa co-buy a few days ago. The RRP for those is £13; BuyaPowa’s starting price was £10, and the best price was at £7.
Are you starting to see how AWESOME this could be for the online beauty community? Imagine a product that caused a storm upon release, that everybody wanted but wasn’t necessarily a reasonable price. Now imagine if we had BuyaPowa.com when that product came out!
This is what could happen, if we all worked together on this:
Product is released and everyone is very excited. One smart cookie puts in a request on BuyaPowa for a co-buy on that product. That smart cookie tweets/blogs/facebooks about the request, that person’s readers spread the word further, and everybody supports her request on the BuyaPowa site. BuyaPowa see how badly people want this product, and approach the supplier to set up a co-buy. Co-buy goes live, and we all spread the word again (thank you social networking), bundle in on the co-buy and receive it for somewhere around 50% off the RRP! And don’t forget, the person who brings in the most fellow buyers receives their product for free!
There’s a short video on the site which briefly summarises the concept of co-buys, if you want to take a look.
Aside from introducing the concept of the site to you, the other purpose of this post was to ask you all some questions that might help the BuyaPowa team offer us exactly what we want. I would be exceptionally grateful if you could find the time to answer even just one of these questions, as I’m really excited by the idea of co-buying and suddenly want EVERYTHING at BuyaPowa’s best price!
1. Would you be at all interested in buying products in this way? We’d be strengthening our little community, and getting much-wanted products for great prices!
2. What sort of products would you like to see in co-buys? Remember, you have the potential to request anything on BuyaPowa, not just beauty products.
3. Do you think this would work really well within our community, or do you see it falling a little flat? I’m interested in the opinions of those less optimistic than me, too!
4. What hideously overpriced products would excite you most to see in a co-buy?
5. Think of one specific product you’d like to see on BuyaPowa and would definitely participate in a co-buy for. Then, once you’ve answered that, hop off to the site and request it so we can all support it and start shopping together for bargains!