Team buying for higher discounts

Interesting find this on Springwise.com. It has generally been seen that groups are more powerful than the individual, and in retail it's even more so. Consumers are forming groups to combine buying power and increase their chances of getting a bargain. Even strangers can take part in this exercise of team buying. How it works is that groups of customers wanting to buy similiar products meet at designated shops and mob the seller into giving them a bulk discount. The trend is especially popular in China where there are several such sites such as TeamBuy, Taoboa and Liba, which already have hundreds of thousands of members and even earning money from ad revenue and commission from supplers.