Greentoe is changing the way people shop by enabling consumers to NAME THEIR PRICE on products.
The way it works is you find the product you want to buy and make an offer based on the price you want to pay. Then we send your offer to our network of authorized retailers. The first retailer to accept your offer makes the sale.
We are consistently beating Amazon by 12%. Currently, we are in 5 categories: Electronics, Photo Gear, Appliances, Musical Instruments, and Baby Products.
@njdevilsfan85
1) who are the other major competitors in the space - how does this compare to them?
2) what % do you take of the transaction?
3) can you really compete with Amazon, esp as you scale?
@eriktorenberg Great Questions !!
1. We don’t have any direct competitors. We compete more with price comparison sites for traffic and Amazon/Ebay for sales.
2. We take a similar commission as other sites (e.g. Amazon/Ebay). But this comes from the seller. The customer doesn't pay anything more than the price of the offer.
3. We can absolutely compete with Amazon. We are the new way to shop. E-commerce will become a demand side platform where retailers compete for sales.
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I saved 12% OFF Amazon. So, it looks like Greentoe is already competing. At scale? Well, maybe. But, I know that some products are not always cheaper on Amazon. Especially some of the products on Greentoe.com
Yes, they need a redesign, but look past that for a minute -- I bought this 50mm lens[1] in just as long as it'd take me to buy on Amazon ($125), only I got it for $85.
A startup shouldn't be able to beat AMZN on price, but they're doing it. Very clever.
[1] http://www.amazon.com/Canon-50mm...
Hey, we did this with video gaming stuff at Dawdle back when (sniff sniff). We had our best luck with longer tail stuff because we had great SEO for the obscure stuff (still with bar codes). Can you find stuff that doesn't have great substitutes? Things with strong brands work really well - I'd suggest Vitamix blenders, KitchenAid mixers, etc.
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Greentoe.com really works! If you goto a store and name your price, you get a lower price. So, at @greentoedotcom , you are doing the same exact thing. But, over the internet with no sales rep, no parking, no gas, and most of all, no weird moment when you ask the sales rep for a lower price. I up-vote Greentoe.com
about time someone built this. this is a great idea, will definitely run all my purchases through here first to get the best price
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Neat idea! For sure the product needs to be polished from a design perspective, but the foundation (concept) is great. "Pay how much you want for what you want" seems like a joke, but you guys made it into something real! :)
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