Economist.com: Chinese consumers are ganging up on their retailers
Tuangou, (Simplified Chinese: 团购; Traditional Chinese: 團購; loosely translated as team buying or group buying) is a recently developed shopping strategy originating in the People’s Republic of China.
Several people – sometimes friends, but possibly strangers connected over the internet – agree to approach a vendor of a specific product in order to haggle with the proprietor as a group in order to get discounts. The entire group agrees to purchase the same item. The shoppers benefit by paying less, and the business benefits by selling multiple items at once.