LootStreet : Bargain to your heart’s content
Are you a bargain junkie? The kind who can beat the seller down to death to save that one rupee?
LootStreet might just serve a great platform for your bargaining soul.
Started by two IIM-A alumnis, LootStreet aims at bringing the buyers and sellers together and start the loot, i.e. bargain.
LootStreet is not really an auction service, but instead is a one-to-one bargain. Once you signin, you can set a loot price for a product (loot is actually a misnomer, since you can’t set a ‘drastically low’ price. If you try to setup something way below the selling price, your loot will be marked as spam) and the price is sent to seller.
Depending on the loot, seller can decide to approve/reject the offer.
The idea seems very exciting and tries to capture the intent – but the only thing that is to be watched is the buyer commitment towards the ‘loot’ price. Say, if I get an iPod for 20% cheaper (from lootstreet), I am incentivized to check out more offers and bargain at an offline store as well (i.e. shortcircuit LootStreet).
LootStreet has partnered with gadgets.in, gadgetsguru.com, smsintegra etc.;and is mentored by MakeMyTrip CEO, Deep Kalra.
What’s your take on LootSteet? Will you use their service?
About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
Totally cool – apart from the “price” bargaining, they should add the “deal” part too – e.g., “Throw in a couple of DVDs, and I’ll buy it at this price”. Also, like any genuine bargaining, it should be possible to abort deals midway. Sometimes you do that if you just don’t like the guy
An anonymous live chat with the person would be cool too…
Hey Loot team,
XSS-Attack is possible on the loot site for example: http://lootstreet.com/search/search.php?sort=%22+sor_value+%22&searchtext=To%20Continue%20enter%20ur%20ICICI%20Login%3Ciframe%20src=https://infinity.icicibank.co.in/BANKAWAY?Action.RetUser.Init.001=Y&AppSignonBankId=ICI&AppType=corporate&abrdPrf=N%3E%3C/iframe%3E&searchcondition=0&searchcategory=0&scid=&sub_category=&home_sub_category=0&home_price_range=0
How people can exploit this flaw, you can read on http://codeinspections.blogspot.com/search?q=XSS
Those Indians may not get exploited by such kind of things but would still be better to fix this issue.
–
Thanks
Mallik
Looks pretty interesting.
The two most immediate challenges will be:
1.) Combating non-serious buyers and sellers
2.) Getting right technology in place.
I remember reading a business on the same lines in US or in AUS. But, I am not able to recall it.
The closest approximation would be http://www.atyourprice.in where you can bargain air fares.
I would like to suggest them to go for patents, if they are not any.
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