Eyestorm does it again
The team at UK-based online art retailer Eyestorm not only gave us Eyestorm Trade, their marketplace for (re)selling art works you bought on Eyestorm before (see my write-up on this truly innovative business model here), but now brings us the brilliant ‘Make us an Offer‘.
‘Make us an Offer’ allows Eyestorm customers to make an offer on every art work for sale on the Eyestorm website. The Eyestorm team reviews the offer and if they deem it ‘possible’ you get the art work at the price you have set. In my eyes this is a brilliant and highly engaging way to increase sales, very much in the way social shopping sites like Woot create artificial scarcity. Makes you wonder why other brands / retailers (especially in the luxury goods segment) don’t use this technique more often and in a more concise way. All in all it’s a wonderful way to engage with your customers, get a better feeling about price perception (other than setting your prices in a vacuum) and it can help you increase your sell-through rate significantly.