Concept addresses flaws in traditional group-buying models
Note: High resolution images available upon request
TORONTO, Nov. 20, 2012 /CNW/ - A new Toronto company is set to take on
the city's large group-buying companies by putting the needs of
merchants first while still providing consumers with significant
Spinzo officially kicked off its service late last month. The company's
founder and CEO, Emmanuel Elmajian says he is confident Spinzo will
change the way Torontonians view online shopping. Elmajian says the
term "group buying" needs to be redefined. "Merchants' needs must be
respected and given priority because current systems are too
one-sided. With Spinzo, we have created a more ethical
merchant-consumer relationship." Elmajian points to the countless
horror stories of businesses losing money or going broke after paying
50 per cent commissions to daily deal sites. "That business model is
not sustainable so I created Spinzo."
Instead of forcing vendors into heavy discounting, the Spinzo concept
builds partnerships with merchants allowing them to set their own
pricing so they don't lose money. For consumers, the Spinzo buying
experience is pleasurable and fun because as more people purchase a
given deal, the savings become bigger. Consumers can track the price
drop in real time and can even set their own maximum "buy" price.
"This technique creates an incentive to share deals with friends,"
explains Elmajian. "As the deals are shared, exposure for partner
merchants increases, a concept that is lacking in the traditional
Spinzo is now up and running in Toronto. Users can visit www.spinzo.com to watch an introductory video and to gain access to local buying
experiences. Merchants and businesses wishing to partner with Spinzo
can go to www.spinzo.com/business for more information.
Founder Emmanuel Elmajian, 27, created Spinzo to meet the growing need for a fair on-line marketplace for merchants and consumers. This unique platform offers exclusive products and experiences where the final price depends on how many people agree to purchase. Prices are determined by partnering merchants and prices drop instantly every time someone joins a purchase. Consumers can set their maximum purchase price and have a compelling reason to share with friends - more savings! Additional details about Spinzo can be found at www.spinzo.com. Information and photos of Spinzo's founder, Emmanuel Elmajian, can be found at www.elmajian.com.
SOURCE Spinzo Corporation