Collective buying is a purchasing strategy where a group of individuals or organizations come together to buy goods or services in bulk. By pooling their resources, they can negotiate better prices and terms with suppliers, often leading to significant savings for each participant. This approach is commonly used in various sectors, including retail, real estate, and food co-ops. This method not only benefits consumers by reducing costs but also fosters a sense of community among participants. Collective buying can be organized through online platforms or local groups, making it easier for people to connect and collaborate on purchases, ultimately enhancing their buying power.