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Innovation

Kogan unveils LivePrice

Sydney, Australia, 2 December 2010 – At a global live press conference moments ago Internet entrepreneur Ruslankogan

Kogan unveiled LivePrice™, a world first pricing model that allows online shoppers to get the best deals on the latest technology.

Watch a recording of the press conference here: http://livestream.com/kogan

A video explaining LivePrice is available here: http://youtube.com/watch?v=FCSpcwPDD7E

The production cycle of all consumer goods is funded by investors who expect a huge return, and this is factored into every price tag. Kogan LivePrice cuts out the hidden cost of finance, with dynamic pricing of all Kogan products starting at an unprecedented low.

The LivePrice will gradually rise throughout the manufacturing and shipping process based on a number of factors until it eventually reaches Kogan’s everyday low price.

Consumers now have the power to choose the point in the cycle at which they buy a product; whether during production, shipping, or when the product is in stock. The earlier a customer buys the product, the greater the saving. Here is an example of a Kogan product with LivePrice.

Ruslan Kogan said the new invention was a result of the Kogan mantra that there is always a better way to create and deliver.

“The openness and transparency of the Internet has enabled online stores to cut out overheads and service greater markets, revolutionising the way we shop. It has also enabled manufacturers like Kogan to communicate directly with our customers and cut out all the middle-men.

“With LivePrice we have harnessed the openness of the Internet to cut out the hidden cost of finance built into price tags of all goods. Kogan ‘LivePrice’ gives the power of choice back to the consumer and will change the way we shop.

“Even though no other manufacturers or retailers are up front about it; every product you purchase has a cost of finance included in its price. Credit can be given by a supplier, bank, or silent investor, but they all have one thing in common – they want a huge return on the money invested into the production cycle.

“At Kogan, we believe in transparency. We’re not scared to admit that manufacturing new products means that money needs to be spent up front, which typically means a hidden cost of finance. We just don’t want the customer to have to foot that bill.

“The LivePrice system means that a shopper buying a product when it’s in stock will still get our already market-leading price, but by joining us early on in the production cycle, shoppers can benefit from further discounts that are completely unheard of.

“Other retailers are out there asking their Governments for new taxes and regulations to help entrench their market positions. At Kogan we are focused on inventing new ways to create and sell the best value products to more shoppers around the world.

“LivePrice’s innovative pricing system completely revolutionizes the manufacturing and retailing cycle, putting the power in the hands of shoppers,” Kogan said.

Kogan LivePrice is already active on Kogan UK and will soon be rolled out across Australia and the world, as Kogan continues its bid to use the openness and transparency of the Internet to put more power in the hands of shoppers all around the world.

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