CHARLOTTE, N.C. – An emerging web-based retail platform that promises to change the scene of the e-commerce industry launched its landing pages and social media efforts this week.
Flash Purchase, LLC, founded in 2011 by Michael Sinsheimer, is set to launch its full site early this fall.
The Flash Purchase platform allows its members to choose to either be a buyer or a seller.
On the site buyers will have the ability to “create a deal” where the user can create a desired discount on any product they want from a database powered by Shopzilla. Each deal offers a simple “share” button that will send the deal to the users’ social networks.
This feature is included because the basis of the Flash Purchase discount comes from group purchasing.
Each “deal” has a running number of participants. The more people that join the deal the more likely a seller can acquire that pool of purchasers and offer an attractive deal price. Buyers also have the option to join any existing deals on the site, follow different deals they are interested in, and have access to their own interactive dashboard that shows deals tailored specifically to their interests.
On the seller side of Flash Purchase, any company or single person can register.
The seller has access to all of the buyer-created deals on the site and can bid to acquire the purchasing pool of that deal. The seller wins the deal by either having the lowest bid price when the deal time expires or by choosing “Sell Now” which ends the deal immediately.
Sellers also have the option of creating their own deals.
The seller-created deals allow for tier-based allowing prices to drop as certain increases in participant numbers are reached. This aspect encourages buyers to share their desired deals with friends to increase the chances of a higher discount. It also gives the seller complete control over their product offering and pricing.
“We came up with this platform so we could create win-win commerce to create sound economic benefits for both sides of a transaction,” said Sinsheimer. “The appeal to buyers is that they can get discounts by grouping together with friends or strangers to purchase any product they want. For sellers, the appeal is acquiring large amounts of purchasers with only one transaction.”
Flash Purchase is still in its beta phase but is currently taking e-mail registrations.