In 2008, Groupon, the originator of group buying, was established. At that time, Groupon was a new e-commerce enterprise providing local limited-time group buying products and services. Its predecessor was the social networking site thepoint.com.
The model adopted by Groupon is: Every day, Groupon will select a product in a certain city and set the minimum number of people to join phone number list the group. If the actual number of users who join the group meets the requirements, these users can enjoy ultra-low discounts to purchase and obtain the product. Groupon receives a commission from completed transactions.
This model attracted a large number of users at the time, and Groupon gathered a huge amount of traffic in a short period of time. The rapid growth in the number and capabilities of C-end customers has brought more merchants to Groupon, thus forming a C-end driven by C-end consumption power, attracting B-end merchants to gather in batches, and then driving C-end consumption in turn. → B→C business model.
In 2009, the group buying model was officially introduced into China. With the surge of hot money,
thousands of websites appeared in the industry explosively. Until 2014, the reshuffle within the industry left more than 170 group buying companies, forming the famous "Hundred Regiments War". Among them, under the leadership of Wang Xing, Meituan, relying on the power of capital and a reasonable market share, fought a bloody path in the war and achieved itself.