Stephen Culp argues blanket retail sales leave significant profit margins behind
Stephen Culp · 1514 They Gamify Price Negotiations for Consumers, $100m in Sales, They Take 2-6% · Sep 16, 2019 · at 8:37
Stephen Culp, founder of PriceWaiter, explains to the host why e-commerce merchants prefer private, individual price negotiations over public site-wide discounts.
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“Versus let's just say a Black Friday sale or a clearance page where they're generally just guessing a discount level that then applies to all all of the products they're selling for that level. And they're probably leaving margin on the table.”
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“Almost in every case, it's going to be better than what they would have paid had they paid for ads or then some sort of affiliate arrangement or whatever.”
Retailers report PriceWaiter drives incremental revenue without cannibalizing existing sales
“It turned out that the revenue that retailers were earning through the SAS product They themselves classified as accretive or incremental revenue, meaning not cannibalizing their existing sales on top of their existing sales.”
PriceWaiter secures incremental sales at smaller discounts than merchants typically expect
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“They like the win. They like the sport.”