If you’re a strong supporter of homegrown Haystakt’s efforts in connecting consumers with small independent designers around the world, you’ll be glad to know that these innovative (and incredibly tech savvy) folks are revolutionizing the way makers price their products and how we shop online! Introducing Haystakt’s new crowd-pricing platform – PROJECTS.
As the world’s first crowd-pricing platform (please don’t confuse it with crowd-funding), PROJECTS hopes to help makers make better pricing and quantity decisions by roping the consumers into the decision-making process.
The idea is simple – through a transparent pre-ordering process (days left in the pre-ordering period will be displayed), consumers are able to discover new products before they enter production, view current order statuses of products, and indicate their interest to order.
If more consumers order the same product, the price of each unit will drop (due to economies of scale the maker enjoys) along a pre-established price curve. The result? A win-win cost saving situation for both makers and buyers!
jConcetto (L) Desinere (R)
Think that you should wait till more people order the product you’re eyeing, so that you can enjoy savings when you submit your order later? Don’t! You’ll be missing out on the early adopter bonus, which rewards folks who are the first to take the leap of faith with the maker.
This early adopter bonus (eg. 20 cents), pre-determined by the maker, multiplies each time more people order after you. So, if the product you chose to support becomes wildly successful, you stand to pay the least out of everyone. Pat yourself on the back for good foresight!
In a nutshell, by giving consumers a say in influencing product pricing (through the pre-order process), it ultimately helps makers achieve economies of scale before entering production, and pass on that cost saving back to the customers. Ingenious eh!
Interested to find out more? Check out Haystakt’s website, read their ‘how it works’ page, and shop their latest projects!
Fans of Parasolbag will be stoked to know that their new version MinusOne is one of the launch projects, along with Weekend Worker’s handcrafted ceramic bamboo teacups, jConcetto’s DIY leather wallet kit, and Shiok’s skinny wallets (a wallet-friendly – har har – alternative to the popular, but pricey Bellroy). Happy shopping!
Top Image: Parasolbag (L) Weekend Worker (R)
All Images: Haystakt
