Online Innovation – from Kogan – Even lower prices?

The KOGAN brand is well known for low prices, own branded consumer electronics – mainly TV’s and such, but even recently in Microwaves and Vacuum cleaners.

This morning, at what I have to say could be the most optimal time for a global press announcement  -8am Sydney, 9pm in London and the middle of the Afternoon in the USA – Ruslan Kogan sat in front of Journo’s in the UK while on a live stream online to announce LIVEPRICE a new trademarked online shopping innovation.

Billed as an invention, this is more of an innovation in my book, but having said that, it’s a bloody great idea.

Click continue reading for more info…

So, as the introductory video explains – this is all about allowing you to buy early in the process – as the product is (in theory) beginning manufacture:

Of course, when you ask a manufacturer to build you a shipping container full of TV’s, they want some cash.  So, companies fund that capital through borrowings, what this plan does, is gets YOU the consumer to help fund that actual purchase, and thus reduce the behind the scenes financing costs of building your own electronics brand (so he assumes).

Very innovative!

Essentially, anywhere up to 8 weeks out from availability you can order a product but at a price even lower than the normal Kogan prices.  Basically, on the shopping page you see the Standard Kogan price, then next to it you see the ‘live price’ which continues to tick up, like one of those ‘population estimate counters’ you see online.  You choose when to hit BUY, you choose the price.  Simple.  Order early, and WAIT for delivery, or, order NOW and pay full Kogan price for delivery of any current shipment.

It’s clearly more complicated than that, but in terms of simplicity of explanation, that’s the best I can handle at this hour.

LivePrice is only available at Kogan UK, but should hit Kogan Australia shortly after Christmas – Interesting times!

Let me know what you think!