Spinzo Corporation
Spinzo Corporation (Spinzo) operates as a group-buying website company based in Saint John, NB that is developing and marketing a proprietary market based solution that allows merchants to optimize pricing based on consumer demand.
Group-buying websites allow consumers to take advantage of deals offered by local businesses. The deal gets activated only after the minimum quantity of deal vouchers has been sold. Current group-buying companies require merchants to provide discounts of at least 50% and keep as commission 50% of the proceeds. There is no flexibility to optimize pricing based on demand and the model alienates the most desirable merchants, ultimately reducing consumer appeal.
Spinzo optimizes the group-buying concept with a fundamentally different approach that is both exciting for consumers and sustainable for merchants. Merchants specify a “sliding scale” price range for a targeted product or service. Users bid the most they are willing to pay for a deal and the price falls throughout the day as cumulative bids meet the pre-defined thresholds.
