Buying groups are organizations formed by businesses or individuals to leverage collective purchasing power. By joining together, members can negotiate better prices and terms with suppliers, which can lead to significant cost savings. These groups often focus on specific industries or product categories, allowing members to benefit from bulk purchasing discounts. Members of buying groups typically share resources and information, enhancing their ability to compete in the market. This collaboration can also lead to improved product quality and access to a wider range of products. Overall, buying groups help their members maximize efficiency and profitability through cooperative buying strategies.