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The premise is simple: users enter the item they want to buy, the URL where they saw the item for sale, and the price to beat. An adjusting slider enables them to narrow results by preferred price point.
By entering a URL and price point, users do two things: seek a comparatively lower price, and add to BeatMyPrice's database. If the URL they entered provides the lowest price for the given item, their own entry becomes the price to beat.
A Harris Interactive study commissioned by RetailMeNot found 32% of online shoppers use price comparison sites. "We've developed a product search platform that is as good, if not better, than that of the established players, and it is designed to improve the results for subsequent visitors every time a search is performed," said co-founder Guy King of BeatMyPrice and RetailMeNot.
"On top of that, we have integrated 100,000 coupons from RetailMeNot.com into the results to make sure no opportunity for savings is missed."
