PriceGrabber.com Finds Loss-Leaders
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A new wrinkle on e-commerce is being offered by a startup called PriceGrabber.com that allows consumers to use technology that automatically searches the Internet for products that are sold below cost, as "loss leaders."
The Los Angeles-based company said there is no charge to consumers to use the service.
Although not all visitors to a site are expected to buy, the company said, a premium is placed on the fact that they visited, thus generating traffic. In the first 24 hours since launch more than 10,000 PriceGrabber.com users have visited the site, the company said.
According to the Web site, products are ranked "by how much their selling price is less than approximate wholesale cost. We've begun with Buy.com and plan to add additional retailers. . ."