Greentoe is an app which might dramatically change the way you shop. Why? Because it lets shoppers buy items at “market prices,” the lowest prices retailers are willing to sell an item for.
It works like this: Shoppers find the product they’re looking for, submit the price they’d like to pay alongside a gauge that tells them the likelihood of a match, and a partner retailer accepts the offer. Explaining why the app works, Greentoe co-founder Joe Marrapodi told VentureBeat in an interview: “People don’t want to deal with haggling, but they also don’t want to get not the lowest price.”
Greentoe is taking on retail favorites like Amazon, whose prices it beats by 14 percent on average, Marrapodi said. Although Greentoe is mainly selling electronics, photography equipment, music instruments, appliances, and baby products, the company wants to expand to as many categories as possible.
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