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Kogan unveils LivePrice pricing system
- — 02 December, 2010 09:01
At a London press conference broadcast over the Internet, Ruslan Kogan — founder of cut-price technology retailer Kogan Technologies — has announced the launch of the company’s 'LivePrice' incremental pricing scheme, which allows customers to purchase a product for a lower price earlier in its production cycle.
Kogan showed the example of a Kogan Elite 32in LED television on the company’s recently launched Kogan.co.uk Web site. With the manufacturing process of this product just beginning, the television’s listed LivePrice during the presentation was £330 — a saving of £69 over the product’s regular price of £399. The projected shipping date for the TV is 31 January; a wait of two months for any customers purchasing at the lowest possible LivePrice.
Kogan said the LivePrice system empowers customers: “The earlier you purchase, the more you’ll be rewarded.” The price on each LivePrice product on the Kogan Web site slowly rises, with an increase of approximately two pence on the 32in LED television’s price in an hour.
The LivePrice scheme is currently only available for four products on the Kogan UK Web site. A spokesperson for the company said the system would be implemented in Australia soon, with a launch projected for after Christmas.