The launch of a new online shopping service will see consumers offered the chance to name the price of their desired products, with retailers and brands choosing whether or not they want to sell at that price.
In another challenge to high street retailing, Alphatise has launched in Australia with plans to turn online shopping on its head.
The social commerce start-up has already raised $3 million and says it will give buyers the power to tell sellers what they want and the price they are willing to pay.
Ben Nowlan, former commercial partnerships manager and VP of sales of Groupon, said the development of Alphatise was the natural evolution of online shopping that would also tap into social media sharing.
Retailers and brands can register with Alphatise as sellers.
Consumers can access the site through an app or a browser and will also be able to share their wish through social networks so friends can get in on the same deal.
“The way we differ from group buying sites is we don't need a mass of people and the consumer gets to have a say in how much they want to pay,” Nowlan told sister website AdNews.
“I think one of the big problems (for retailers) is how do you monetise social systems?”
He said the nature of people sharing their wishes online through Alphatise and social media would allow retailers and brands large and small to engage directly with buyers.
Product areas the company expects to be successful include fashion, technology and household goods and Nowlan said it could grow to include big ticket items such as cars and holidays.
“As more users come on board and and more wishes are made, we expect more sellers to use Alphatise as another powerful channel to help sell more goods,” he said.
The company has set a target of recruiting 100,000 users by December and it already has ambitious expansion plans for next year.
"We know consumers around the world want to shop online from their devices and would like to have more say on the price they pay for items. Conversely, for sellers, they want to connect with customers when they’re ready to buy,” Nowlan said.