Group Buying
Previously, I’ve written about companies such as Brazil’s Compra3 (in VentureBeat and the New York Times), which group people together to purchase goods and services with some additional value (such as deep discounts). There’s much potential in this formula.
Now, there’s a new player called Ofermatic that utilizes a point system (accepting many varieties of credit cards) and gaming mechanics to increase the level of engagement for consumers. According to the company, they provide between 10 and 100 times better repeat conversion rates than other sites. During my last Digital Innovation Workshop, I spoke about this company and about the fact that, if companies were more focused on digital innovation, perhaps an established player could have developed this idea.