grouppurchasing
nounUK /ˈɡruːpˌpɜːtʃəsɪŋ/
US /ˈɡruːpˌpɜːrtʃəsɪŋ/
When many people buy something together to get a better price.
The neighbors saved money through group purchasing of a shared lawnmower.
RELATED WORDS
OTHER MEANINGS
2. A business strategy where companies combine orders to lower costs.
The hospital joined a group purchasing organization to cut supply expenses.
3. A club or organization that buys goods for all its members at once.
The school's group purchasing program supplies art materials to every classroom.
4. The act of several buyers negotiating a single deal with a seller.
Group purchasing gave the small shops leverage against large suppliers.