Swarm Buy - Driving the Price Down
19th Sep 2007
(REVIEW)
SwarmBuy.com is a place for consumers to increase their purchasing power by grouping together to attract better deals and/or packages from sellers.
Similarly, SwarmBuy provides a great place for sellers to offer great deals on products and services by restricting the minimum number of buyers needed for the seller to fulfill the terms of their deal.
The site provides a central location for buyers and sellers alike to start product "swarms". These "swarm" points become the rallying points for interested buyers and sellers. As the size of a swarm of interested buyers increases, fulfillment of the swarm becomes more appealing to potential sellers. Similarly, a seller may make an offer to a small or empty swarm where the offer places a desired number of participants before the order will be processed. In this way sellers can provide great product discounts and packages as an incentive to grow the swarm.
SwarmBuy is free for both buyers and sellers. No commission is charged to start a swarm or to fulfill a swarm.
To help ensure a risk-free experience SwarmBuy uses a multi-stage ordering system. The first stage is when a buyer creates an order. At this time the buyer is not obligated to buy the product-- they are just indicating to the seller that they like the deal. At any time a seller may lock their order causing a confirmation alert to be sent out to buyers who have made an order. The buyer can now choose to confirm their order and go on to payment with the seller, or they can cancel it and move along. If not enough buyers confirm the order then the seller can re-open it to attract more buyers. The seller may also confirm the order at which time any unconfirmed buyers automatically have their order cancelled.
SwarmBuy provides powerful filtering features to filter out sellers that haven't had their address validated, or are based outside of a specific city, state/province, country, or internation region (such as North America). By using filters, buyers only interested in sellers they can physically visit to pick up their order can configure the appropriate settings when joining a swarm. Similar features are available to sellers to restrict buyers to specific geographical locations.
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