Business Idea #103 – After Purchase Comparison Shopping

by Byron on May 25, 2012

The Problem:

After you purchase an item, there is a price reduction guarantee policy.  If the merchant drop the price, you are entitled to the new price.  The merchant relies on you to not keep up with it.  They also realy on you to not realize that they usually have a longer return period than price reduction match period.

I can’t tell you how many times I’ve heard my wife on the phone, “I know the price match period has ended.  I don’t care.  You can either give me the reduced price or I’ll just return it and buy it again at the lower price.”

The Business

Two problems need to be corrected.  First, a shopper doesn’t keep up with the price match policy.  The price drops.  The shopper doesn’t know or care.  The shopper leaves money on the table.  The second problem is incongruity between the price match policy time and the return policy time.  Both problems need to be exploited until they are corrected.

AfterThePurchasePriceDropWatchingService.com (I recommend a shorter domain name.)

The second problem can be rolled into the first.  The service simply needs to watch the price through the return period.  The service alerts the customer.  The customer claims their loot.

The service is the same as Eyeona, the price matching service.  No need to reinvent the wheel.  Just copy what they’ve got going on.  Imitation is the sincerest form of flattery.  Or sometimes the shortest route to riches.  Competition is ok.  Competition is good for the consumer.

Doableness

Not too difficult.  Not easy, but not rocket science.  Think affiliate marketing and data feeds.

My Thoughts

My wife and I talk about what a nice world it would be if merchants weren’t always trying to hustle you.  Just sell for the lowest price you can all of the time.  This isn’t to say I will only pay the lowest price for things.  Seemingly comparable products aren’t always comparable, a nice point Seth Godin reminded me of.  (Price isn’t the only idea unless it truly is a commodity.)

 

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