Recently launched in the UK, Slidr is a site that works through a crowd-subsidy system where you pay a small amount to purchase credits, and use those to reveal a discounted price on the products you want. A higher-value item like an iPad costs 7 credits per slide, but it is possible to get a discount on something like a Nespresso machine for just 3 credits. At the time of writing, the range of products available on the platform included handbags by Prada and Fendi as well as the latest iPhone 7.
Once a user spots something they like on Slidr, they have the option to use some of their credits to reveal a discounted price. This will always be cheaper than the RRP (Recommended Retail Price), explains its co-founder Marwan Salem, but exactly how much cheaper depends entirely on how persistent the user is. The price does go down each time someone slides, so if you have several people interested in a product the discount can quickly increase, until someone snaps it up, that is.
So a handbag that retails at around £700 can go down to £650 after a few slides, and even further (there is no set lower limit) as the competition heats up. The Stella McCartney I was looking at went down in price by over £167 after I had spent £20 worth of credits, which means that even if you’re largely subsidizing your own discounts it can still be worth it.
According to Salem, they developed their model based on retail psychology and behavioural analysis of consumer behaviour patterns to create a “sticky” experience for consumers.
“This is the result of two years of intensive in-house R&D to create a proprietary algorithm that dynamically analyse consumer behaviour patterns and decide on the price drop accordingly,” he explains. “What we wanted to make was a game that was exciting, but at the same time one that you can’t really lose, because the price you get is always lower than you would pay in a shop.”
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