Incahoot, a new group buying website, promises to save you money on your energy, mobile and broadband bills when you sign up.
The website relies on ‘crowd-sourcing’ for bargaining power on crucial day-to-day necessities. Incahoot says that the larger its member base, the more negotiating clout it will have – and the better deals it will be able to offer subscribers.
Incahoot differentiates itself from other group buying websites such as Groupola and My City Deal by focussing not on luxury goods, but on basic items and services that most people have to buy regularly.
John Evans, CEO of Incahoot, told Which? Money: ‘At Incahoot, our mission is to leverage the collective buying power of our members to negotiate exclusive, best value deals on household bills for consumers.’
How Incahoot works
To sign up for membership of Incahoot, you’ll need to set up an account with the site. Although this is free, you’ll need to provide your email address, phone number and address so that Incahoot can alert you of its latest money saving deals. Some of these will be local to you, while others might be national offers.
If you like Incahoot and refer your friends or family members to the website, you’ll also earn a £10 bonus for each person who signs up. Any cash you earn will be transferred into your bank account every three months.
Incahoot makes money by receiving payment from retailers when its members buy particular products and services, but Evans says the deals the company negotiates are beneficial for all parties involved. ‘Our members receive exclusive, market beating offers, we get a small commission for each sale we make from the supplier, and in return our supplier partners gain access to our ever growing member base.’
Our expert verdict on Incahoot
With inflation still high and the price of essential goods such as petrol and groceries on the rise, it’s well worth exploring group buying websites. You could save money on treats and essentials by using sites such as Incahoot – however there’s no guarantee that the offers they feature will always be the very best for you.
When it comes to products such as gas and electricity or your mobile phone tariff, for instance, it’s important to compare all the deals on the market before choosing one. While group buying sites might offer cashback or special discounts, these won’t always be on the cheapest options – and so could still end up being more expensive than a product, service or offer you could get elsewhere.
It’s worth checking our reviews of household products before you purchase things, and our impartial switching services Which? Switch and Which? Mobile will help you make sure that, when you do purchase from a group buying website, you really are getting a bargain.
For more money saving guides, including tips on cutting household bills, visit the Bills & budgeting section of the Which? website.
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