Decide.com offering guarantee to beat online price swings
(Reuters) - E-commerce start-up Decide.com is launching a guarantee on Thursday, claiming it will help online shoppers handle increasingly swift price swings known as dynamic pricing.
Decide.com crunches data to tell shoppers the best products to buy and also when to buy them.
The latter service is becoming more important as Amazon.com Inc and other online retailers change the prices of some products by the hour and even by the minute. Twenty percent of products tracked by Decide.com change price each day, and some change a dozen or more times a day.
The company's new guarantee covers all buy recommendations on its website - over 200,000 products daily across at least 75 categories such as electronics, appliances and tools.
If the price drops below what the consumer paid within two weeks after making the purchase, Decide said it will pay the difference in cash, up to $200 per product. The guarantee is free for Decide users.
In the future, it will be offered as part of a Decide.com paid membership.
"The new age of dynamic online pricing - where product prices change daily - can be a real headache for shoppers," said Mike Fridgen, chief executive of Decide.com. "Our new guarantee stands behind our predictions about when to buy to get the best price."
Decide was co-founded by Internet search expert Oren Etzioni and backed by investors, including Starbucks Corp chairman Howard Schultz's Maveron, a venture capital firm.
(Reporting By Alistair Barr; Editing by Jeffrey Benkoe)