Greentoe describes themselves as a revolution in online shopping, due to their approach of giving shoppers the ability to negotiate with retailers about the prices they will pay for the products they want.
How Does Greentoe Work?
Greentoe.com is designed to be as simple as possible, with users being able to browse the products they are interested in purchasing, and then using the name your price feature, which means offering the price they would like to pay for that product.
When searching, you will be shown the average price that item is selling for online, as well as the lowest available price for that item online.
These prices are intended to help you understand what type of price you should reasonably offer. In addition, they provide the “Offer Success Potential” indicator, which is intended to show you the likelihood that your offer will be accepted by a retailer.
Many retailers are set up to instantly accept an offer that is reasonable, but even if your offer is not immediately accepted you will generally hear from retailers within one to three days. It is important to note, though, that offers cannot be cancelled or rescinded after they have been submitted.
The website insists there is no trick or catch to their service. The reality simply is that sometimes retailers need to move product out of their warehouses or off their showroom floors and they are willing to essentially make a low or even no profit on that particular item just to get it out of their store without losing money. These are the retailers that are often working with Greentoe.com.
However, just because a retailer needs to move a product does not mean it isn’t in great shape. Greentoe.com only sells brand new products, and all photography equipment are “USA” products and not “import.”
At this time Greentoe.com does offer a mobile application for shoppers, but only for iOS devices. There is no information on whether or not they will offer additional apps in the future.
Using this website is completely free of charge. The price that you offer the retailer is the complete price you will pay – the retailer understands that this price includes the product, tax, and shipping costs. Customers should also take this into consideration when considering the price they want to offer.
In general, this website does provide a minimum Return Policy of 14 days, with a few exceptions: large appliances, like washers, dryers, etc, and TV’s with screens larger than 47”.
Outside of these items, customers have 14 days to return new and unused products regardless of what retailer they purchased from. However, the retailers themselves can choose to offer a Return Policy longer than the standard 14 days.
Customer Service Contact Info
Customers who have questions, concerns, or complaints they would like to direct to their Customer Service team can contact them by phone at 888-840-0464 or by submitting them directly to their website through their Contact Us link.
At this time there are not very many available reviews from customers or users, which makes it more difficult to really evaluate this website and the service it is offering.
There are a handful of independent third party reviews from bloggers and online publications, but these are generally just excited about the promise of this website to allow people to name their own price.
There are some things about the website that seem a little problematic, for those of us who are a little nitpicky about these things. The “Offer Success Potential” indicator for example seems particularly problematic.
For example, a 46” Samsung smart television was promoted as having an average online price of $447, but a potential offer of $447 was shown at only having a 50% chance of being accepted.
Technically if the average price of that television is $447, the only money you are saving is on tax and shipping, and this website is indicating that only 50% of retailers would be willing to accept that deal. What is worse, however, is that an offer of $500 showed only a 55% chance of being accepted.
This seems to indicate that customers should just generally ignore the indicator and offer what they are genuinely willing to pay with the discount they really want. Worst case scenario is that your initial offer is declined and you can re-submit, especially when submitting offers for items which can’t be returned.
Competitors and Alternatives?
There are person-to-person online marketplaces where people can set the price for a product they want, but it is a little more difficult to find websites that let you negotiate with retailers themselves, though there are others available, like Garmentary and OnlyAtoms.
If you have any experience with Greentoe or their products, please leave your reviews below.
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