Former HMV.com managing director sets up Groupon rival
Gideon Lask, HMV's former e-commerce director, is launching a "co-buying" company today (28 September) that aims to be an evolution of group-buying sites such as Groupon and LivingSocial.
BuyaPowa: co-buying company launches today
Lask claims that BuyaPowa offers a unique proposition by bringing shoppers together into a single transaction, in order to give them access to bulk-buy discounts available to retailers.
Competing group-buying sites such as Groupon that offer daily deals, run the risk of devaluing brands, according to Lask.
He said: "The commercials of BuyaPowa are completely different – we are about maintaining price-perception of product rather than damaging it and I think we are about creating brand ambassadors, rather than just appealing to deal-hunters."
BuyaPowa, which is currently in beta, aims to create brand ambassadors and communities through partnerships with online publications, including London Cyclist.
Communities will be asked to vote on what product they would like to buy and, once decided, BuyaPowa will go to the relevant brand and negotiate a co-buy deal.
Discounts for the co-buy deal will increase as the number of buyers in each co-buy increases, while the buyer who brings in the most other buyers will get the product for free.
BuyaPowa says it is already working with brands including Samsung, Phillips, Green & Black’s and Calvin Klein.
Lask was managing director of HMV.com for five years and left to take up the senior vice-president of e-commerce role at Universal Music, before quitting Universal Music a year ago to launch BuyaPowa.
He claimed that BuyaPowa would remove the power from retailers and put it back in the hands of the individual, as consumers and suppliers become more comfortable with online retail.
This article was first published on marketingmagazine.co.uk
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