Imagine being able to negotiate the price of the items you buy online, just like you do in-person at markets. Well, now, thanks to ergo, an innovative pricing software developed by startup company ergo, this is becoming a reality. Ergo aims to provide online retailers with a simple and hassle-free way to clear out inventory and increase profits without resorting to traditional sales.
Key Takeaway
Ergo is an innovative pricing software developed by startup company ergo that allows online retailers to engage in price negotiations with customers. The software adds a “Make an offer with ergo” button to the product pages of retailers’ websites, allowing consumers to make an offer. Retailers then decide whether to accept or reject the offer. Ergo seeks to simplify and bring authenticity to price negotiations in online retail.
From Apple to ergo: The birth of a game-changing app
Claire Stepanek, the founder and CEO of ergo, came up with the idea while working on the supply chain team at Apple. Her job involved negotiating prices with vendors, an aspect she thrived on due to her affinity for math. Stepanek also applied these negotiation strategies in her personal life, such as haggling for a car at a dealership. This led her to think about how she could apply these principles to everyday shopping experiences.
The mechanics of ergo: A new era of online bartering
Ergo operates as a software plugin, initially as a Shopify app that retailers can download for their online stores. The plugin adds a button to the product pages, replacing the traditional “add to cart” button with “Make an offer with ergo.” Interested consumers can click on this button, enter their desired price and waiting period, and the retailer decides whether to accept the offer or not. What sets ergo apart is that there is no back-and-forth negotiation process.
Pre-seed funding and future plans
Ergo has recently secured $1.5 million in pre-seed funding from Anthemis and Wischoff Ventures. With this funding, ergo plans to expand its team, enhance its product pipeline, and develop an app for stores on other marketplaces. Additionally, ergo aims to provide valuable analytics to retailers, enabling them to gain insights into market trends while boosting revenue and sales. The company is also preparing for the upcoming holiday shopping season, ensuring its availability and impact during this crucial retail period.
Ergo’s unique approach to pricing negotiations in online retail has attracted attention as it offers a modern twist to an age-old practice. Being able to engage in negotiations with retailers gives customers a sense of control and satisfaction, while also benefiting the retailers themselves. As ergo continues to grow and innovate, it has the potential to revolutionize the way we shop online.
