BRENTWOOD, Tenn. (WTVF) — There's a new way to save when you buy online. People who used PriceWaiter saved an average of 18 percent on their online purchases last holiday season.
"Cyber Monday prices are great. Black Friday pricing is great. We're going to try to make that available to you throughout the entire year on your terms," PriceWaiter co-founder Stephen Culp said.
PriceWaiter is an e-commerce company that was founded in Chattanooga. On the website, consumers can negotiate prices directly with online retailers.
"They win both financially and psychologically. You'd be surprised how impactful that is on a shopper - when they can save money on a product in a very simple, private, streamlined negotiation," Culp said.
Culp walked NewsChannel5 through a negotiation. The automated PriceWaiter negotiator brought down the price of a 65" Samsung television from $1697.99 to $1650. According to PriceWaiter data, the average savings is higher than that at $81.
PriceWaiter works with a number of sellers. According to the founder, they are highly vetted, top-rated manufacturers.
Nashville-based retailer Electronic Express is one of the carefully selected businesses.
"Negotiation is one of the original ways that makes the customer feel good about the purchase they're making," said Christian Gilliam, the sales manager at the company's Brentwood store.
For each of its products on PriceWaiter, Electronic Express sets negotiating perimeters to avoid any losses.
"When we're working with our retailers we do ask that they provide us...rules of the game within which they're okay with negotiating," Culp said.
PriceWaiter takes a small commission on each sale. Sellers only pay when a transaction happens.