Tuesday, July 2, 2013

Buying electronics online by deal sites

Online group buying sites in Singapore came a long way from mainly providing dinning and SPA deals to a wide variety of products and services in a wide price range. IT and electronics products are also increasingly finding their ways to these deal sites. If you go to the product deals page of any group buying site just now, you will see a lot of electronics and IT products. Take the product deals page of Deal.com.sg for example: At this time I have checked there was a deal for  iConnect Laser PicoP Projector, a MacBook Accessories Bundle, Wireless Baby Monitor, a 10,000mAh Ultra Slim Powerbank, STYLUX Hair Dryer, 360 Degree Rotating Stand Case For Samsung Galaxy Tab, DSLR Camera Bag, Samsung 7.5 kg Top Load or 7.0 kg Front Load Washing Machines, Non-Contact Infrared Talking Thermometer and a Nespresso Pixie Coffee Maker.

According to All Deals Leak, which tracks and monitors the local group buying companies, such IT and electronic gadget deals has been growing in Singapore.

This is good news for both consumers and retailers. For consumers, deal sites mean great discounts. Just take a look at the screenshot below: The i-Connect Projector is coming with 68% discount on retail prices.

For retailers it is good news because to grow their business, they do not need to invest in very expensive resources in Singapore such as retail space, shell space, manpower, supply-chain network. Since these are not in the equation, they will be able to have more discounts. Plus, these sites are great ways to advertise and create awareness of products and retailers.

Electronics deals online
Online electronics deals like the one above are getting popular in Singapore.
"We managed to keep our prices low because we do not have overheads such as cost of shelf space and deliveries, since customers are expected to collect the products on their own" says Love Mobile Director Axmund Phuah. Love Mobile has performed a successful deal for its newly launched Red Monster mobile charger through Groupon Singapore.[1]

With Amazon starting free shipments to Singapore and becoming a major competitor to brick-and-wall retailers here, these group buying sites offers great opportunity for Singapore retailers to find new avenues to grow and cut costs to compete with online retailer giants.

[1] - Bagging for a good deal online, The Digital Life, The Straits Times

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