Sydney online retailer Mwave has launched an innovative promotional facility in which the price for an item drops at arbitrary intervals.
Under the MustGo program, limited stock of an item is put up for sale at a specific starting price. As time passes, the price drops at unknown intervals or the offer is withdrawn, presenting customers with the dilemma of whether to buy at the current price or risk waiting for further price reductions.
[Related: Reseller's Report Card – Mwave]
According to Mwave, it is a first in the Australian IT sector and it may even be a national first across all retail.
CRN followed a promotion for an ASUS MeMO Pad 10 tablet on Tuesday afternoon - in 20 minutes the price dropped from $275 to $222.75. The offer expired a few minutes after that, with the next item put under the spotlight.
"MustGo assists in giving Mwave's network of suppliers an avenue to promote or relieve their products as well as being an in-house tool for Mwave to do the same," read the statement from Mwave.
Unlike its existing 'group buy' facility, there is no limit to the amount of stock one customer may purchase under the MustGo program.
Mwave last month launched a mobile site and PayPal single sign-on integration. The reseller recorded 36 percent revenue growth in the second quarter of this year, compared with the same period in 2013.
Victor Lee, founder of distie Anyware, established Mwave in 2006. Lee operates the company out of Lidcombe in western Sydney.
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