O.K., O.K., so you know all about this and I’m just an old lumbering dinosaur who arrives on the scene after everyone else.

I hear this is big in Asia (where it’s called Tuangou) and is already catching on in North America. Here’s the deal….the buying team approaches various vendors and offers them certain transaction volumes if they provide an extremely low price. The deal is posted on the team-buying web site and if you want the deal you sign on for it. Once a sufficient volume of buyers sign on, the deal is a go and you get your redemption coupon. If the minimum don’t subscribe to the deal, it’s canceled. Very, very simple.

And these aren’t rigged deals either…there are no exclusions, limits, etc., like you find in “coupon booklets” that are only valid on certain days or hours, or limited to a few items on a menu for example.

Here’s an excellent example from teambuy.ca. Have a look….you’ll “get it” very easily. Google “team buying” and see if there’s one operating in your city.