Cool concept! Let’s see how this work out:)
Browse products. Name your price. If the merchant accepts your bid, you automatically buy it. This is how Compelation is flipping the concept of ecommerce and giving consumers the power.
Normally, a merchant sets a sale price, and a buyer simply accepts or rejects it. That’s fast, but leads to tons of missed opportunities and a fundamental lack of transparency. Compelation wants to make sure consumers don’t overpay, while scoring data on price sensitivity for businesses. And with a pre-set demand curve, merchants can choose exactly how much revenue they want to earn or products they want to sell if they’re willing to drop the price low enough.
Compelation’s iOS app beta is normally invite-only, but it’s opening signups for the next 24 hours to let TechCrunch readers give it a try.
Here’s how it works. You first tell Compelation a little about what you like to buy. I…
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