Chicago, IL (PRWEB) June 04, 2015
Internet retailers all over the world now have even more ways to convert shoppers into buyers. PriceWaiter began by inventing the concept of distributed price negotiation: a simple way for merchants on any e-commerce platform to engage their shoppers in a dialogue about price. Today, PriceWaiter announced more tools -- including Price Drop and Volume Discount -- for retailers who want to increase their conversion rates, average order volume and generally boost their revenue.
“We’ve seen so many retailers over the years lose money in the race-to-the-bottom of comparison shopping, showrooming and other forms of discounting,” said Stephen Culp, CEO of PriceWaiter. “Retailers spend a lot of money to acquire their customers, and we’ve become obsessed with helping them keep those relationships. This obsession first led to price negotiation. Having proved that negotiation yields big gains for merchants, we’re adding more ways for them to cater to their shoppers’ preferred ways to buy.”
In addition to PriceWaiter’s standard “Make an Offer” function, the following new tools are now available:
- Price Drop: Allows retailers to notify visitors when the price of an item drops within their desired threshold.
- Volume Discount: Typically used for items where the retailer’s margins are better in higher-volume sales.
Other customized pricing options are currently in development and will be available soon.
From the shopper’s point of view, PriceWaiter makes its appearance on the product page, where shoppers are greeted with personalized pricing options, depending on the retailer’s preferences - “Make An Offer” or “Price Drop” or “Volume Discount”. Clicking this button triggers a private, simple one-on-one dialogue between the shopper and the merchant, where a personalized, mutually-acceptable price can be agreed upon by both parties. PriceWaiter’s technology facilitates this dialogue and the transaction, which strengthens relationships and loyalty between merchant and shopper, thereby raising conversion rates, leading to increased revenue.
“We were initially skeptical, but after PriceWaiter added $3 million in profitable revenue, we became firm believers,” said Mark Ginsberg, head of marketing at BeyondStores.com, regarding PriceWaiter’s pioneering Make An Offer technology.
PriceWaiter can be used with any shopping cart software, anywhere on the web. The company has developed ready-to-go packages for five of the most widely used e-commerce platforms: Bigcommerce, Magento, PrestaShop, Shopify, and Woocommerce. Any retailer using one of those platforms can be up and running with Make An Offer pricing within a few minutes.
“Everybody wins,” added Culp. “The shopper wins because they got to name their price. And the merchant gets the sale and the customer relationship, instead of one of their competitors. The merchant gets to sell more, immediately, however they like to sell.”
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.
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