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Luxury Cars
The Jain International Trade Organisation (JITO), an initiative started by the Jain community in India, recently bought 186 high-end cars priced between ₹60 lakh and ₹1.34 crore.
Though the purchase was made across the country, a large number of buyers were Gujaratis from Ahmedabad.
The ₹21.22 crore discount deal
Interestingly, they managed to get a discount of ₹21.22 crore on the total deal amount, which came up to ₹149.54 crore later, proving the strength of community buying.
JITO has about 65,000 members in India and worked with dealers from 15 major brands such as Audi, BMW, Mercedes, Samsung, and others to get better rates for its members, The Times of India reported.
After the recent success, JITO has made a separate wing for community buying. They are also planning to extend such group deals to other categories, across electronics, medicines, and jewellery.
Himanshu Shah, the vice-chairman of JITO Apex, told the TOI, “Community buying gives us power to bargain harder. Brands benefit from assured volumes and lower marketing costs, while members get savings. In this drive alone, members bought luxury cars worth ₹149.54 crore, saving ₹21.22 crore collectively.”
Community buying goes trendy
According to the report, Jains are not the only ones adopting community buying but the Bharwad community has also implemented it.
To promote self-employment among young members, the Bharwad Yuva Sangathan Gujarat pooled bookings for 121 JCB machines, with an average discount of ₹3.3 lakh on each machine, saving a total of around ₹4 crore, TOI reported.
"Our campaign helps the youth start their own ventures. Those without strong credit scores got JCBs at zero down payment, based only on PAN and Aadhaar verification, with the community standing guarantee for repayment," the Sangathan's president Dilip Bharwad said.