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.
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
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