More on team buying

In an earlier post titled Team buying for higher discounts, I had written about a popular Japanese concept called Team Buying and was pleasantly surprised to hear from Eliot Sykes in the US who has started StoreMob which will run pretty much along the same lines. Team buying is a practice where consumers form groups to increase their bargaining power. Groups of customers gather at predetermined locations to purchase products which they can "mob" the store into giving them a discount. StoreMob will have the honor of introducing the system to US consumers who will be able to get bulk discounts on products.