Group buying is a retail shopping format in which consumers join together to save money on purchases and uses the power of recommendation and influence within a community network to drive purchasing behaviors. Group buying is a multibillion-dollar industry in China that has expanded rapidly due to the Covid-19 pandemic. In this report, Coresight explores the untapped growth opportunity that group buying presents for beauty brands and retailers globally, with learnings from Chinese group-buying platform Pinduoduo. There is an opportunity for beauty brands and retailers globally to leverage China’s group-buying strategies and concepts, as consumers are seeking value and recommendations through beauty communities.
Coresight: Leveraging Group Buying in the Beauty Market
In this report, Coresight explores the untapped growth opportunity that group buying presents for beauty brands and retailers globally, with learnings from Chinese group-buying platform Pinduoduo.
