RealTime IT News

New E-Commerce Site Raises Bar on Competitiveness

58Comet Technologies launched a site called Nosaleisfinal.com that allows shoppers at both Internet and bricks and mortar stores to learn if they received the best deal in time to cancel or return a purchase and buy from a store offering a better deal.

If this works, it could well be a consumer's dream, but something of a nightmare for retailers, who may find the competition becoming even more cutthroat.

How does it work? During the typical delay in receipt of an online purchase, consumers may forward the order confirmation e-mail they received from an online store to Returntosender@nosaleisfinal.com. The confirmation e-mail contains the details about their purchase, and is posted anonymously on the Nosaleisfinal Web site.

Shoppers can also enter the necessary information from the confirmation e-mail directly on the Nosaleisfinal site.

Registered online and local merchants then try to beat the consumer's purchase on price, customer service, quicker delivery, some other value added service, or a combination. If the shopper receives a better offer and accepts it, he or she simply cancels the original purchase and gets a credit card credit.

If the original purchase is actually received, shoppers can simply write return to sender on the package or use the return label provided by the original merchant.

There's no guarantee you'll get a counter-offer for your purchase, but hey, the service is free.

"One problem with e-commerce is the delay between the time a good or service is purchased online and when it is delivered to the buyer," said Dino Vervilos, acting manager of the start-up.

"Our service lets consumers buy what they want from whomever they want. They then send us the information on their purchase and we let other merchants see what they just bought. If a different merchant can beat it, shoppers can cancel the original purchase before it's shipped. Even if a shopper has already received their original purchase, the vast majority of companies will take it back for a full refund no questions asked."

The shopper's identity is kept secret while they use Nosaleisfinal, the company said. The service is free for both consumers and merchants, the company said. Vervilos said he is an e-commerce and ASP product manager at USWEST and his partner and brother, Tony, works for MCI-Worldcom as a software developer.

Longer range plans call for development of a revenue model, possibly selling data in various formats to retail analysts and merchants. 58Comet is a holding company the brothers established.