 The price of ‘Must go’ item listed will drop until the offer ends.
There is no limit on the quantity consumers can buy but the tech e-tailer denies it has aspirations to be a wholesaler.
Consumers can choose to buy the discounted item at any time, but the price may drop further.
Deals so far include was a Tesoro gaming mouse that started of at $70 but fell below $40, Samsung Galaxy Tab which sold for under $200, half its RRP.
Consumers buy as a group to receive bulk discounts. Quantities available are quite limited, and there may be hundreds or just handful of units of the low priced technology goods in stock.
This is the latest venture launched by MWave Victor Lee, CEO – who also has a Group Deals offer on its website. But ‘Must go’ is kind of like bidding but the inverse, as everyone is waiting of the price to drop, not increase.
The price is advertised to MWave customers only, who have to logon to mwave’s site, to see what product is.
The reason the offers are for mwave customers only is we don’t want the price to go on comparo sites and potentially, upset vendors, a spokesperson said.
But he denied MWave is looking to become a tech middle man, saying “our goal is not to be a wholesaler.” The e-tailer says marketing/sales tool is a “win-win scenario” for suppliers and consumers.
Must Go deals helps sell clearance items and also promote new products. It has also increased general sales across the site, while consumers are waiting for the price to fall, they are browsing elsewhere on the site, says Andrew Wang, Product and Marketing Manager at Mwave told CN.
“We’re pretty transparent on price, consumers can see the start price but we don’t tell you when the price will drop and by how much.”
“That the fun of it.”
But he admits, ‘we’re pretty aggressive.” There are multiple ‘Must go’ deals each day, can be changed in time periods as short as 30 mins to an hour.
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