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Paribus (YC S15) saves you money when items you purchased online drop in price

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Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#41

While this is cool, isn't the concern that a retailer would get upset and change a policy to prevent this from happening? What's the end game here?

Founder here. Definitely a common first reaction, but we've found that on average shoppers become far more loyal (and spend more, growing store top-line & often net bottom line) when this happens. You might think we're crazy, but we fully believe (and have data to back up) that we're helping these stores far more than the costs.

You should take it a step further and help the retailers add this as a feature to their own apps -- having a store app should include a promise that if the store lowers prices, it will refund the difference for purchases in the last week (or whatever time frame) to loyal customers, perhaps through a store credit. It's a dandy reason to drive adoption of the app.

One thing you should listen to is the number of people who want a reserve price (transaction threshold). This price setting is pure economic gold as information goes -- it tells you their risk aversion (probably) and the shape of their utility curve for extra income. I'm sure it correlates with income, and gives independent verification of income, statistically.

If you have 5 big retailers using your app feature internally, offer to build them a network they can join, to make their rebate offer even more attractive to participants.

With the stores' aid, you can circumvent the problems with email permissions, which frankly are going to limit your adoption. You are far better off working with the stores in a partnership I think, and helping them to understand their own customers' reserve price (and hence propensity for returns and chargebacks, which they surely care about), than being a 'gotcha' adversary.

Added link: https://en.wikipedia.org/wiki/Expected_utility_hypothesis

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#42

One data point: I signed up for the service ~ 6 months ago. I do ~ $200 in Amazon purchases a month. I got my first rebate last night: 50 cents back on some RAM that had dropped in price the day after I purchased it. For anyone who is concerned about email permissions, here's the email (automatically sent from my personal account) to Amazon: Subject: I was charged more than current price Hey, I am writing you to ask…

I've saved roughly $30 in the Christmas season. Glad I did.

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#43

If a kid screams in the restaurant and they have a policy of giving him a free lollipop to calm him down, that doesn't mean we need an app to keep track of the restaurants you've visited without claiming your free lollipop and then hire a company to go around with an automated screaming device to coax dozens of lollipops out of the local businesses. This seems like the kind of company that would spoil this particular…

On the one hand, I'd rather Amazon and others not manipulate pricing to squeeze a couple extra pence from their customers, on the other hand, exploiting social norms undermines society and eventually you lose those nice things in life you could count on in a given society.

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#45

If a kid screams in the restaurant and they have a policy of giving him a free lollipop to calm him down, that doesn't mean we need an app to keep track of the restaurants you've visited without claiming your free lollipop and then hire a company to go around with an automated screaming device to coax dozens of lollipops out of the local businesses. This seems like the kind of company that would spoil this particular…

>This seems like the kind of company that would spoil this particular form of customer service.

I strongly disagree with this, and I have some real world evidence to backup my point of view that companies want customers to take advantage of these policies. Walmart has a feature in their app called Savings Catcher. When you buy something from there, you simply hold the receipt's bar code under your phone's camera for a few seconds. They automatically keep track of the prices of every single item you bought. When prices drop within the policy period, it is added to your Savings Catcher balance, which can be transferred to a virtual Walmart gift card for spending at any time the customer chooses.

If one of the world's largest retailers finds value in automating this process for their own customers, I can't imagine that other companies with this exact policy in place have a problem with people taking advantage of it.

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#46
post #2

Seemingly really cool service. I don't know if I want to authenticate my email address with them though. It seems to me like Amazon/Best Buy/etc next move will be to add a provision that "You must submit a claim not through an automated service"

That would likely be far more negative than what they'd "gain". (Disclosure: Refund Retriever has a similar business model)

How would it be negative?

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#47
post #46

Earlier quoted context omitted.

That would likely be far more negative than what they'd "gain". (Disclosure: Refund Retriever has a similar business model)

How would it be negative?

Big company avoiding honoring its promise to customers when they use a tool to hold big company honest.

(in case my comment was unclear, I'm talking about companies blocking refund services like this)

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#49
Instead of linking to my email address, which I would never allow, let me just forward the relevant emails to you, i.e. to a special email address linked to me account.

It's pretty easy to add a rule in most email providers that forward only message matching certain patterns - you could even provide documentation of what patterns to include.

Re: Paribus (YC S15) saves you money when items you purchased online drop in price

#50
post #49

Instead of linking to my email address, which I would never allow, let me just forward the relevant emails to you, i.e. to a special email address linked to me account. It's pretty easy to add a rule in most email providers that forward only message matching certain patterns - you could even provide documentation of what patterns to include.

If i understand what you mean correctly, this is what tripit.com does (and they do it very well). I just forward plane/hotel bookings and it get imported into my account straight away.
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