How It Works
The company describes their site as a reverse-auction site, "like eBay in reverse". They call it "smack shopping".
Here's how it works:
| “ | Shoppers log onto the Web site and decide if they want to search for a specific product, browse by category or look at a particular store's merchandise. Each item contains two prices -- the amount you'll be charged, including tax and shipping, and the cost minus the share of Jellyfish's commission that you'll receive.
Those rebates go into an account for each shopper and can be accessed either in check form, once they reach $10, or deposited into PayPal, an electronic payment system owned by online auction site eBay. "In our family, about 80 percent of our shopping -- all the way down to toilet paper -- is done online", Wiegand said. "I'm buying things I normally buy from stores I normally buy them from, and my wife's cash-back balance is over $100, just in the past 90 days." Not only is the idea of sharing the commission new, so is the way retailers pay the search engine. Right now, if a consumer clicks on a retailer's ad, the retailer pays a fee whether a sale follows or not. The system is known as PPC, or price per click. With Jellyfish, retailers only pay a fee if a shopper buys the product, and the fee is negotiable. Whichever store offers the highest percentage commission -- which translates into the lowest cost for the consumer -- gets the top ranking in the search results. "We call it VPA, or value per action -- the amount of value you give to the customer to get a sale", Wiegand said. |
” |
Read more about this topic: Jellyfish.com
Famous quotes containing the word works:
“It is the art of mankind to polish the world, and every one who works is scrubbing in some part.”
—Henry David Thoreau (1817–1862)