to reveal the price of the item they want to buy. When the price shows, they have 15 seconds to decide to purchase the product or to let the price disappear. Each slide reduces the price. The discounted price can range from a 5% to a 70% reduction, but during 2017, when Slidr was founded, the average discount on the full retail price came in at 24%.
If shoppers like the price, they can go directly to checkout and get it delivered for free within two to three business days. If they don’t, they can use credits to slide again as the price may go even lower. When a particular item is sold, a new one is offered on the site, with its price back up to the higher level, and sliding starts again. Slidr says its gamification approach differs from other shopping sites, which may use an element of gambling. It says that as the Slidr price is always lower than the full retail price, users cannot lose – no matter when they choose to slide and buy.
Slidr co-founder Marwan Salem said: “The political and economic uncertainty in the UK over the last 18 months has affected high street shopping, as people are much more cautious now. So, consumers will do a lot more research online to hunt down bargains, and are increasingly inclined to buy online too. However, people in Britain really love our high-tech gadgets and luxury items, so all these factors have combined in our favour to make Slidr a great success.”
Slidr is a London-based, Lebanese start-up that says it aims to change the face of retail and online shopping for the gaming generation. The company is part of a London accelerator programme coordinated by the UK Lebanon Tech Hub, which is supported by Lebanon’s Central Bank, the Banque du Liban and the UK government.
Slidr predicts that in 2018 UK gadget loving-consumers will be spending on voice-assistants: its most sold item of 2017 was Google Home[IRDX VGOO], indicating a broader trend towards smart home product adoption, which Slidr expects to pick up in pace this year.
“Smart Home gadgets were the stars of last year, and we believe this trend will carry on into 2018 – especially with the introduction of the mini and dot versions of personal assistants, both of which make them more affordable and available to a larger number of people, said Salem.
“People will be looking at smart homes much more seriously, and this will be the year they truly come of age. We also believe sales of complementary products to the personal assistants will be a hit in 2018 such as Philips Hue, Nest, Hive products and more.”
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- Image courtesy of Slidr