model, popular in the US, ComeLetsBuy.com is launching a Collective Shopping Platform where shoppers create their own groups according to their demands, promoting a reverse-bidding system where suppliers compete to offer the cheapest price for the group and whoever can offer the the most savings to the buyers, wins the deal.

The idea is pretty simple:

Say you want to buy a particular item but want to pay less than what you’re seeing on the web. You simply join groups of other shoppers who would also like to buy the same item and together ask for lower prices. Suppliers seeing big groups as an opportunity to sell large quantities at once will gladly give discounts they wouldn’t be able to otherwise.

Through the website buyers are able to call friends and family and get them into those deals too so all can enjoy the low prices. The more people are there in a lot, the cheaper items will get. Moreover the beauty of the system is that buyers can join complete strangers and help each other grab excellent deals, even if they have never even met before.

ComeLetsBuy is in partnership with Moneybookers, a payment solution that guarantees an extremely safe payment and refund process. ComeLetsBuy is also offering to all users £5 cash back on their first transactions using Moneybookers’ eWallet, which is a secure and easy way of exchanging money online.