Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events

MassGenie launches online marketplace with crowdsourcing and ecommerce blend

Wednesday 3 May 2017 | 11:57 AM CET

MassGenie has launched its own online marketplace site, which combines crowdsourcing and ecommerce to create crowd shopping.

MassGenie gamifies both the buyer and seller experience. It is a marketplace where both the buyer and sellers can initiate a deal.

At MassGenie, buyers can use crowd shopping to drive prices down by creating or joining Power Deals. Power Deals are short-time, volume-based, discounted offers on everyday items.

Once a buyer creates or joins a Power Deal, they can share the deal with their friends via email and social media to create more demand, which encourages sellers to offer lower prices. By helping buyers crowdsource demand, Power Deals let buyers enjoy volume pricing even when buying one or two items.

Multiple sellers can be involved too in a Power Deal, which is different than other marketplaces. By participating in Power Deals, sellers at MassGenie can move large quantities of their inventory and have the opportunity to directly market items to buyers.

Multiple sellers can compete to fill the demand volume by lowering their price.

More: Link