You can call it the Priceline of retail goods. The same way you can name you price for a hotel, you can now do the same with an app called PriceWaiter that lets you decide how much you want to spend on products.
It's a way to avoid feeling like you’re missing out on sales, like those supposed deep discounts from Black Friday and Cyber Monday. PriceWaiter allows you to get a deal on your timetable.
"Don't get caught up in the hype of these manufactured holidays," says Stephen Culp, co-founder of the app. "Just go out and find what you actually want or need, and then name a price you'd be happy to purchase it at. Let us do the rest.'
Doing the rest is doing something that's been around as long as there's been trade... negotiating.
What you do is download their browser, which hangs out at the top of your screen, then look for something you like online.
If the company thinks it could get you a discount, you can make an offer, and they’ll do the bargaining for that price.
"The good thing about this is you don't have to spend time at home looking for coupon codes or comparison shopping because it literally is doing all this work behind the scenes for you," says retail expert Vera Gibbons.
So, why would a retailer lower their price? Some manufacturers don't let them advertise lower prices to protect their brand value, even though the retailer might want to sell the product at a cheaper price. As it turns out, PriceWaiter negotiations are private.
There are also smaller retailers that don't have the big ad budgets to get traffic to their sites. "What this does is level the playing field, and it gives the retailer a shot to earn the business of a customer," Culp says.
Without PriceWaiter, you could always just hold out for an end of season discount and hope there's still product, or risk paying out the nose because you waited until the last minute.
But, you might be able to negotiate a better price from vendors who want to unload inventory. If you can't get a deal...then you come out even. If you're lucky it could help cut down your holiday budget.
As of now one in five offers are accepted. That's not a huge amount, and we had a hard time finding an eligible item. But you might want to keep their browser on, at least while you do your holiday shopping. The company says, as more retailers sign on and the number of products increase, the more deals there will be.
To visit the PriceWaiter website, click here.