‘Ratio shopping’ site Wyngle claims to avoid brand damage of group buying
A Sydney start-up is aiming to create a market niche with a twist on group buying it is labelling “ratio shopping”.
The concept behind Wyngle is that when consumers buy a product there is also a chance they will get it for just $1. In each offer, the site tells readers the ratio of orders that will be available for $1 rather than full price. if they do not get lucky, they pay the advertised price.
The site has been created by former property developer and marketer Sebastian Langton.
He claimed that the point of difference compared to group buying is that the site conditions consumers as to what a fair market price is.
Langton said: ““The enormous success of group buying and daily deal sites is well documented, but so is the damage this has done to the industry. Consumers have come to expect heavy discounts and are increasingly willing to switch brands for the next deal. Wyngle provides an incentive for shoppers to buy products at the fair market price, encouraging brand equity and loyalty again.”
The site, which has been granted a NSW lottery permit, claims to have deals in place to offer products from brands including Apple, Canon, Versace, Asics, GHD, Aussie Bum and Dyson.
Declaration of interest: Wyngle last week paid Mumbrella to send a marketing message on its behalf to some readers.
OK – my maths might not be the best …
is it…
a. every 3rd customer gets the perfume for $1
OR
b. every customer gets to spin the wheel to win the product for $1?
because there is no “chance” in scenario a – you just need two customers to buy before you.
whereas scenario b is all about chance. and therefore Wyngle may sell every product for $1 – if the odds go against them.
Sebastian, can you clear this up, please?
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Hi Doug,
Thanks for your query.
You are correct in scenario a. above. We allocate the winning prizes sequentially, not randomly – so in the example given, every third fragrance will be sold for $1. You were also correct in scenario b. in that each customer will spin the wheel to find out if they win, but it will be pre-determined whether or not they win (according to the sequence).
It’s also worth noting that the first winning fragrance isn’t necessarily the third one in the sequence (it could be the first, second or third), but it will be every third one thereafter. If you buy three fragrances, you will be guaranteed to get one for a dollar. We also have some items as low as 1 in 2 so if you’re buying one, you can secure a second one for only a dollar more.
You can also read more here…
http://www.wyngle.com.au/how-it-works–a1
Hope this helps.
Cheers
Sebastian.
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Hey Doug i’m pretty sure it’s every 3rd customer gets it for $1. Their is still chance in scenario a) as you don’t know how many people have bought the product before you.
I’ve bought on here twice now and it’s pretty awesome. The first product i bought (a perfume) i ended up paying full price, but bought again a day later and got another perfume for $1.
Will definitely be back on here to buy gifts for birthdays, special occasion etc. If there’s a chance that i only have to pay a dollar for gift, i’ll be up for it every time!
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