The recently-launched website Aroxo is helping consumers to save money and negotiate a good deal in the midst of the credit crunch. Capitalising on the fact that when money is tight, sellers are often willing to bargain with buyers to secure a sale, the founders of Aroxo launched a site to allow you to negotiate a price even when buying online.

The system works quite simply – sellers have registered a list of products they stock and their “normal” prices. Buyers then browse the site and find a product that they wish to buy. Instead of comparing prices, or competing in an auction, the buyer then enters the amount of money they would like to pay for the item. All the sellers of the item are notified of this intent to buy, and make offers to the buyer – the buyer then reviews the offers and can choose to accept any of them, or to negotiate further if they wish. The buyer doesn’t commit to a purchase with their first offer, so there is nothing to lose.

Because it takes time for the offers to be made by the sellers, this approach lacks the “instant purchase” appeal of normal shopping online – but if waiting a day or so can save you a lot of money then surely it’s worth it – and the chances of buyer’s remorse are lessened also. Aroxo is currently focused on consumer electronics but they have plans to expand into other markets, and if you planned to make such a purchase it could save you a significant amount in these tight times. However, don’t buy things you wouldn’t normally have bought just because you got a good deal – that’s not the way to save money!

More details are on the Aroxo website.

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Consumer Goods, Economy

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