Now I don't know about you but I absolutely love handbags. If I suddenly won millions of pounds one of the first things I would do (apart from share some money between my family and friends and give some of it to charities) would be to buy some very luxurious, designer handbags because after makeup bags are what I'm next obsessed with. Can you tell I love them already?!? So when I came across an interesting read about collective purchasing from the handbag company Cooper & Hill I couldn't help but share the information with you.
'Collective Purchasing is where the consumers join together as one to commit to a bulk purchase, therefore using their collective buying strength to drive down the cost of their purchase'. The reason why it would work is because high consumer commitments mean lower manufacturing costs which shifts the balance of power directly to the consumers. Cooper & Hill are one of the first to go ahead with this idea. This approach will see luxury brand quality products become accessible to a vast number of people, which will bring typical retail prices down, for example from £125 to £32, a saving of £93!! Sounds great right!
From reaching this target Cooper & Hill will be able to bring luxurious products at trade prices to a wider market. The success of the campaign will move the balance of power towards the consumer as they will control the cost through collective empowerment. The concept relies on keeping resources to a minimum to enable Cooper & Hill to provide quality products made from some of the finest materials at massively reduced prices through high volumes of sales.
The control is in the consumer's hands, there are clear tables on each product page showing the current progress of the price drop based on consumer commitments. As the ‘commitments’ grow bigger, the price drops significantly at the volume breaks displayed on the page.
If you found this blog post interesting then you can share it using the hastags #CrowdandCo and #ConsumerPower.
*This is not a sponsored post, however images and some information were provided from the Cooper & Hill website
I hope you enjoyed this post. It was something a bit different, but I hope you found it interesting.
Thanks for reading xxx