Yesterday seen the launch of Kogan’s LivePrice system. In what they call a new era of transparency in pricing, the company offers cheaper prices to consumers the earlier they jump on board. While criticism suggested this was simply clever marketing and that consumers were actually just funding Kogan’s development costs, the expected dispatch date for most products is around 3 weeks. This is clearly not long enough for a product development cycle, so looks like it could be a great opportunity to get in early and score a bargain.
On bigger items like TV’s, savings could be up to $700, but typically are a couple of hundred dollars. Turns out this new strategy from Kogan is paying off big time, with CEO Ruslan Kogan posting a tweet minutes ago, announcing that yesterday Kogan sold more products than the entire first year of operation. Amazing. Now more products sold, doesn’t necessarily equate to more revenue, but wouldn’t be hard to see that be the case.
In a press release from Kogan earlier today, they confirmed that first day sales of Live Price items raked in $329,965. Kogan claim “LivePrice yesterday has shaken up the online retail industry and already proven a massive success.”
For a list of LivePrice products, check out http://www.kogan.com.au/shop/category/liveprice/
So what do you think ? Were you one of the thousands that picked up a bargain yesterday ?