Deals Are Timeless; But Shoppers Want The Coolest Way to Save
Wednesday, July 24th, 2013
I recently came across a new online tool called Nifti. Nifti is an online price tracking tool that allows you to track products online as easily as you would pin a picture to Pinterest. It seems to offer a fun and convenient solution for deal-hunting shoppers. But, in reality, Nifti is one of many deal-hunting tools available to today’s shoppers. Is the market for deal tools saturated? Maybe. Maybe not.
Deals are timeless. Shoppers 10 years ago were hungry for deals and I can only imagine that shoppers 10 year from now will be too. The only difference is how these shoppers are finding their deals. A combination of psychology and technology has evolved how the modern shopper finds deals. Rue La La found success by turning a typical sale site into a flash sale site because people tend to act more impulsively when they think items are scarce. Groupon found success by using crowding sourcing (aka peer pressure) as a means to get deals.
Perhaps Nifti or another new tool is the next big thing? We’ll have to wait and see. But I do know that as long as shoppers are hungry for deals the market will think of new and creative ways to help them find some. After all, technology does not change fundamental human needs it just changes how we fulfill those needs.