PriceWaiter Serves Up New Personalized Pricing Tools
Price negotiation platform PriceWaiter has unveiled two new tools to help retailers convert online shoppers.
The new tools are labeled “Price Drop” and “Volume Discount.” Price Drop, for example, enables retailers to notify visitors when the price of an item drops within their desired threshold, while the Volume Discount tool is designed for items where the retailer’s margins are better in high-volume sales.
“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.”
These new tools add to PriceWaiter’s standard “Make an Offer” function, which is displayed on the product page to greet shoppers with personalized pricing options depending on the retailer’s preferences, such as “Make as Offer” or “Price Drop” or “Volume Discount.” By clicking this button, customers can trigger a private, one-on-one dialogue with the merchant where a mutually-acceptable price can be agreed upon. PriceWaiter’s technology facilitates this dialogue and the transaction, which also strengthens relationships and loyalty between merchant and shopper.
“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.”
It is important to note that other customized product pricing options from PriceWaiter are expected to be launched soon. Moreover PriceWaiter can be used with any shopping cart software, with ready-to-go packages available for Bigcommerce, Magento, PrestaShop, Shopify and Woocommerce.