Kogan LivePrice cuts online prices further
Customers have already embraced the bold new Kogan initiative – since being launched yesterday, the company has sold more than $330,000 worth of products.
Traditionally any product being produced needs to be financed and whoever provides that finance expects to make a profit on their investment.
With Kogan’s LivePrice, a customer’s commitment to buy a product before or while it is being produced provides that finance and ensures an even lower price.
Company CEO Ruslan Kogan says Live Price proves there is always a better way for online retailers to create and deliver.
“With LivePrice, we’ve worked out a way for shoppers to save up to another 50 per cent,” he said
“LivePrice harnesses the openness of the Internet to cut out the hidden cost of finance built in to price tags of all goods. LivePrice gives the power of choice back to the consumer and will change the way we shop.
“Even though no other manufacturers or retailers are up front about it; every product you purchase has a hidden cost of finance included in its price. Credit can be given by a supplier, bank, or silent investor, but they all have one thing in common – they want a huge return on the money invested in the production cycle.
“At Kogan, we believe in transparency. We’re not scared to admit that manufacturing new products means that money needs to be spent up front. We just don’t want the customer to have to foot that bill.”
An example of the pricing on the Kogan site is for a 32-inch full high definition LED with a built-in Blu-ray Disc player and PVR which can be purchased now during the production phase for $522.69. The regular price once the item is built and shipped is $749.
Below is a video explaining how Kogan’s LivePrice works.
Online retailers already have an advantage over traditional bricks and mortar retailers mainly because they don’t have a physical store and can pass on the savings to you.
And because they can import factory direct to the customer they can also cut out a lot of steps in the manufacturing, distribution and delivery process that usually drives the price up.
Kogan’s latest effort with LivePrice will put even more pressure on competitors to delivery quality products that are also value for money.