Buyers club

A buyers club or buying club is a club organized to pool members' collective buying power, enabling them to make purchases at lower prices than are generally available, or to purchase goods that might be difficult to obtain independently.

AIDS epidemic

In the early days of the HIV/AIDS epidemic, buyers clubs became prominent as a means of obtaining unapproved medications and information about how to help treat HIV and opportunistic infections.[1] An example of this was drawn to wider prominence with the 2013 film release Dallas Buyers Club.

Hepatitis C

In response to the high price of modern direct-acting antiviral (DAA) treatments for hepatitis C, the FixHepC buyers club was set up by James Freeman and his father John Freeman [2] in Australia in 2015 in order to help individual patients obtain legal access to generic versions of sofosbuvir, daclatasvir, and ledipasvir. At EASL International Liver Congress,[3] Dr. Freeman presented data[4] showing that generic versions are as effective as branded products.

Scams

In the United States, the Federal Trade Commission (FTC) found that fraudulent or misleading buyers clubs were one of the top three types of consumer fraud in 2011, affecting about 0.6% of the US population every year.[5]

These memberships are typically sold in the course of selling another product, either with a free trial membership being a condition of making the purchase at the offered price or with a free trial membership being included as a "thank you" gift along with the initial purchase. The customer may not understand what was purchased or may believe that they have not authorized payment for the membership, and yet the credit card used for the initial purchase is billed for the buyer's club membership at the end of the free trial.[6] According to Iowa Attorney General Tom Miller, "Consumers often tell us they don't recall ever having spoken to the companies, and they don't understand how they can be charged when they have not given the company their credit card number."[7]

Sometimes, a wide variety of products are promised at a discount, and then once the fee is paid the products are unavailable or not as advertised.[8] This is particularly true for travel-related buying clubs.[9]

References

Further reading

This article is issued from Wikipedia - version of the 11/5/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.