Greentoe.com, a next generation ecommerce marketplace where users name their price, launched today. Consumers can shop for and place offers on a variety of new products, including cameras, TVs, home audio equipment and other consumer electronics. Geared toward consumer goods, Greentoe.com creates a new online shopping experience by putting shoppers in the driver’s seat during retail transactions. Users place an offer on a product and Greentoe.com automatically alerts their vast network of certified retailers who are waiting to accept the offer and make the sale.
“We designed Greentoe.com to deliver an ecommerce experience that’s unlike anything on the Internet today, with the retailers coming to the buyer, instead of the other way around,” said Joe Marrapodi, CEO of Greentoe.com “Today’s launch marks a shift in the way we shop, giving consumers a better way to get a great price on the products they want, all from a source they can trust.”
How it Works for Consumers
The Greentoe.com experience begins with consumers searching the site to find the product they want to buy. Each product page provides full color images, detailed specs, user reviews, as well as expert reviews from sites like CNET, PC Magazine and Wired magazine.
When the user is ready to place an offer, Greentoe.com provides two important tools to help eliminate the guesswork when calculating the best offer price. First, the product page provides real-time pricing data from around the web, revealing the lowest online price for the item. Second, the site gives the user a "Recommended Offer Price", one that Greentoe.com calculates to be within a reasonable range for retailers to accept.
Once the consumer places an offer on an item, Greentoe.com digitally notifies its vast network of certified retail partners. The first retailer to match the offer makes the sale. After the offer is accepted, the shopper is notified by Greentoe.com and is provided with retailer and tracking information.
Greentoe.com’s model is as useful to retailers as it is to consumers – small and mid-tier retailers may find it cost prohibitive to build and market a robust, reliable online shopping experience and can now leverage Greentoe.com’s infrastructure, technology and security to make new sales, expand their customer database and reduce inventory.
Greentoe.com is a free service for consumers and currently sells consumer electronic products including cameras, TVs, home audio equipment and computers. In the coming months, Greentoe.com will expand its product offerings beyond consumer electronics into a variety of verticals.