The Pricewhispers model will enable our company to increasingly understand our consumer's collective buying intent, to sell more products and to ultimately increase both our revenue and profitability.
Toronto, ON and Princeton, NJ (PRWEB) April 22, 2009
Imagine finding the perfect gift for your wife, husband or good friend at your favourite online retailer. You love the item but the price tag is just too much to justify under current economic circumstances. You suspect that the price may come down eventually over time but you don't know when and you don't want to miss out when it gets discounted. With the new online price capture service provided by Pricewhispers, you don't have to miss out. Using the service directly from participating retailer web sites, you can specify the price that you would pay for the item, an expiration date for your price commitment and the retailer will contact you if and when your bid has been accepted.
Increasingly in today's online world, people have come to demand a significant level of participation in their online activities. From modifying entries at Wikipedia to sharing information and thoughts via Facebook, Twitter or their own blogs, online users have become conditioned to expect that they will provide input into their online activities. According to market research conducted out of Cornell University in late 2008 and early 2009, over 84% of respondents across Canada and the United States indicated that they would like to have a similar level of input via a participative shopping service. Pricewhispers provides the extension of this form of online interactivity to online shopping directly from participating retailers' web sites.
While the benefits of empowerment and convenience to consumers are obvious, the Pricewhispers service is actually founded on pricing science principles and can increase participating retailer's bottom lines as well. "The Pricewhispers model will enable our company to increasingly understand our consumer's collective buying intent, to sell more products and to ultimately increase both our revenue and profitability." Colin Campbell, founder of online boutique Lavish & Lime said. Analytic models and simulations sourced from Cornell University's Professor Chris Anderson show that this service can increase online revenues and profits 6-12% for retailers by enabling them to optimally segment their consumer base by price sensitivity and to reduce the chances of missing out on some of those sales.
"We are excited to launch our new integrated price capture service within two great online retailer web sites, Lavishandlime.com and Lemonlimekids.ca. Both retailers offer unique high quality products to consumers across North America and both offer the service directly from within their web sites today" said Neil FitzGerald, Founder and Chief Executive at Pricewhispers. "We also have a healthy pipeline of additional retailers across a broad spectrum of retail categories including Fashion Apparel, Sporting Goods, Jewelry and Home Furnishings lined up to join the Pricewhispers community over the next few months."
Pricewhispers, established in 2009 is creating a new paradigm of retail by empowering consumers to specify their own non-list price commitments to retailers via an integrated interface in retailers own online web sites. Based on market research and analytic models from Cornell University, Pricewhispers enables retailers to capture more information about their consumers, and generate increased revenues and profits. You can learn more about the Pricewhispers consumer and retailer communities at http://www.pricewhispers.com.
About Lavish & Lime
Based in Vancouver, Canada. Lavish & Lime specializes in eco-friendly product lines for living, giving and more. We aim to make shopping easy and enjoyable, save you time and make you feel good about the purchases you make. The product range is organized into five categories: on the go, body, living, baby & kids and jewelry. All of our new items are either eco-friendly, natural/non-toxic or made in Canada. You can learn more about Lavish & Lime at http://www.lavishandlime.com.
About Lemon Lime Kids
Founded over 5 years ago, Lemon Lime Kids is run by artist Lisa Fabregas and provides custom artwork for discerning parents and their children. Lisa was born into a family of artists and attended the Corcoran School of Art in Washington, DC before majoring in Art History at the University of Maryland in College Park, MD. You can learn more about Lemon Lime Kids and other custom works of art available from Lisa at http://www.lemonlimekids.ca.
For more information or interview requests, please contact:
Founder and Chief Executive, Pricewhispers
646 765 3653