Tesco is trialling a new concept whereby shoppers will be able to control the price and range of products based on their purchasing power and the use of social media.
Customers to decide range and price of products on sale
The new buying model, called Tesco Wine Co-buys, will allow customers to influence the price and range of products on a new wine ecommerce site, based on how much they purchase or intend to purchase. Tesco has teamed up with co-buying specialist Buyapower, who have previously worked with a number of large global FMCG suppliers, to launch the service. The website will allow shoppers to register interest in products and also request new products they would like to buy, with the most popular then coming on sale.
The more who get involved the bigger the rewards
Once a sale starts, as more people buy a product the price comes down, but deals are only on for a limited time and the stock is limited. Shoppers can sign up to alerts online so that they do not miss out and the more people who sign up the bigger and better Tesco will make the deals. On top of this, if shoppers bring more people into the scheme through spreading the word on social media, Tesco will give the customer who refers the highest number people a case of wine for free. The trial will run for 12 weeks and if successful could be rolled out to include other categories such as health and beauty, home and garden and sports.
Making online shopping as social as traditional formats
Tom Daniell, Tesco director of digital and social, commented, 'There’s a real social element to traditional shopping and there’s no reason why shopping online shouldn’t be just as fun. Family and friends love to shop together and seek out a bargain and co-buying lets customers easily share deals online and use collective buying power to get a great deal. This channel really puts customers in control – from determining the final price they pay, to telling us the products they’d like to see featured. We’re excited by the possibilities co-buying brings to online shopping and we’re looking forward to hearing what our customers think over the next few weeks'.