BuyThePrice is an e-commerce startup by Hyderabad based myZingo. The site wants to leverage on the social media reach of its buyers to enable bulk buy discounts. The site uses a differential pricing slab based on the quantity of product sold within a given time window. Like any shopping site the buyer pays the current listed price for a product. Once the deal time closes, the discounted amount would be credited back to him. On the currently listed products one can get around 10-15% discount for 5-10 buyers.
BuyThePrice - Differential Pricing Slab
Given the noise from other deal sites which claim to give 50-80% discount, BuyThePrice’s offer might sound very negligible. But unlike other sites the product listed here are standard branded ones which one would buy even otherwise, deal or no deal. There are many sites which come up with social marketing features as their USP but then tend to forget about what should have been their core offering, selling real products. The whole site is very realistic with no tall claims.
One other noticeable feature that you don’t often see in Indian e-Commerce space is the site’s UI. The site has all the elements of e-commerce and social shopping, yet it is uncluttered. They have also taken the efforts of putting up multiple high resolution images for each product, not seen often in India. These small features help you build trust.
Hopefully they will show similar efforts in product delivery and customer support as well.
Do give BuyThePrice a spin and share your views.
[Naman is a startup enthusiast and has worked with couple of Indian startups as Product Manager. He writes at The Inspire Blog]
Interesting, this market is pretty hot indeed.
Really a promising site
every other site 'offers' some 5% to 10% discount on branded products.. yet there is no big leap in ecommerce.. could u all plz enlighten how & why 'buytheprice' concept would work out when the other 'offering' sites see no great demand even after the discounts!
Hi Nitin,
You might have observed in a lot of company bulletin boards that people try to aggregate the demand for a product be it a bean bag or a car and then talk for a better deal. Buytheprice does it at a pan-india level, and also without any one consumer taking the initiative to collate demand. Also, rather than offering say x% across all the products of a brand at all times, we have taken the approach of only 10 deals. So we would be featuring products in consultation with the brand for only 1/2 products they best see fit on which we give much higher discount. Later, as the demand per order increases (for ex, we sold 26 8GB pendrives on the launch day) in excess of say 50, we would scale up by having dedicated deal page per category.
Pingback: A BIG thanks !
Buy The Price
Congratulations
Good , and very interesting. why dont you plan something like this for industrial segment.
with best wishes
anuradha
Hi,
Looking at the following line in the review,
” But unlike other sites the product listed here are standard branded ones which one would buy even otherwise, deal or no deal.”
I am unable to understand why the selling company would offer a bulk deal for such consumers. My understanding of a bulk deal is that, when a person recommends a product to his network and they go as a group to buy that product, they get a discount from the seller since the seller has more customers because of the group deal, some of whom might have gone towards other competitors.
In this model, I do not see an incentive for the “recommendation” which will help the seller. It’s just that, if I go directly to buy a product, I won’t get the discount but if I go through this particular site, I will definitely get a discount since someone in India might have bought it recently.