(PRWEB) June 04, 2015
CHICAGO (IRCE 2015) - June 4, 2015 - PrestaShop and PriceWaiter today announced that PriceWaiter’s innovative ‘Name Your Price’ technology is now available to PrestaShop’s extensive global network of internet retailers. PrestaShop has one of the world’s largest networks of retailers on its open source e-commerce platform; these merchants have collectively generated over $1 billion in sales since the company’s founding in 2007. Price negotiation provides tangible benefits to retailers and shoppers alike.
“We’re committed to building strong relationships with our merchants by listening carefully to their needs. Our merchants tell us that personalization is one of the features that their shoppers request most frequently,” said Kenneth Cruz, General Manager of PrestaShop. “The ability for a shopper to name their price during a transaction benefits both parties: the shopper feels a greater degree of control over the purchase and more loyalty to the merchant, who reciprocates the loyalty and captures additional revenue in the process. By offering this technology, we’re helping our merchants get off the comparison shopping ‘race-to-the-bottom’ and helping them sell more right away. It’s truly a win-win for everyone.”
PriceWaiter invented the concept of distributed price negotiation. This module, when activated by a merchant in the PrestaShop platform, gives merchants a high degree of control over the appearance and utility of the price negotiation options for their shoppers. The merchant can edit the design and placement of the PriceWaiter button to best match their site; can have specific control over which products are offered for negotiation; and can use cost and inventory data to automate offers based on their sales strategy. PriceWaiter enables merchants to make more money at no additional cost, while retaining relationships with their most loyal customers.
“Negotiation has been part of the buying and selling process for as long as markets have existed, all over the world” said Stephen Culp, CEO of PriceWaiter. “Until recently, merchants and their customers had no efficient means to negotiate the prices of most online purchases. This resulted in immeasurable lost sales for thousands of merchants. We set out to change that by offering a technology that facilitates a smooth, private transaction between buyer and seller that can be implemented anywhere on the web. PrestaShop’s network of merchants are collectively running more than 230,000 stores in 165 countries. Merchants will be able to implement this technology quickly and begin selling more, immediately.”
PriceWaiter’s powerful retailer-facing dashboard gives the merchant access to advanced metrics to help them track PriceWaiter usage and maximize profits. In real time, merchants can track high-level information such as revenue growth, order volume, and conversion rates.
PrestaShop’s initial rollout of PriceWaiter will focus on merchants in the U.S., Canada, the U.K., Australia and New Zealand. Other countries will be added at a later date.
“Our merchants love this technology,” added Cruz. “It’s an easy-to-use tool that simply allows them to make more money immediately, with no significant changes to the way they do business.”
PrestaShop retailers can both install and set up the PriceWaiter module directly from their store administration page at no additional cost. Everything required to take the platform from an idea in their head to a ‘Name Your Price’ button embedded on their product pages can be handled in the PrestaShop store administration section.
PriceWaiter makes buying and selling better, anywhere. We start by creating a 1-on-1 dialogue between buyer and seller for online price negotiation, making it fast, simple and private for anyone who sells anything, anywhere on the web. Our platform significantly improves customer engagement, conversion and average order volume, and can be implemented on any retailer’s web site. Hundreds of retailers have begun using PriceWaiter, generating more than $60 million in offers since the company’s founding in 2012. To date, more than 80,000 retail customers have successfully negotiated favorable prices with their preferred merchants. For more information, please visit PriceWaiter.com
PrestaShop was founded in 2007 with a mission to provide world-class ecommerce software through open source innovation. Today 230,000 ecommerce stores run on PrestaShop technology. The company provides software that enables users to have an online store at the lowest cost possible. The PrestaShop open source community includes 800,000 merchants, developers and web agencies from around the world. PrestaShop is the proud 2014 winner of two CMS Critic Awards for Best eCommerce Solution for SMBs, and Best eCommerce Solution for the Enterprise. The company has offices in the US and France, and is funded by Serena Capital, XAnge Private Equity and Seventure Partners.
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