In Knowing Cost, the Customer Sets the Price the NY Times explains that consumers are increasingly able to dictate prices due to much easier access to price information via the Internet and comparison shopping tools. The phenomenon makes it easier to spot items marked up too high compared to other retailers and it is driving prices down overall. But even their example shopper, who haggles for most purchases, explains that he is truly looking for value. Sounds like you either need to have the lowest price or the highest value!

Experticity CEO Tom Stockham recently wrote about the two core questions that are asked when trying to make a purchase – the first question is what to buy? When someone begins their research they are immediately assaulted by price information with Google’s Shopping results, and retail stores usually appear near the top for any product search. Even if WHAT is more important than HOW MUCH, consumers can’t avoid knowing the prices.

What if we turned the existing research process upside down? What if instead of driving the process with price information we gave people information about products – and just as important: product categories? What if consumers had a place to go to get advice and information from experts without the immediate sales and pricing pressure?

At Experticity we think there is tremendous value in building the experts who would drive this interaction – at retail, through professionals and other well-informed experts. Our 3point5.com platform delivers up-to-date, first-hand product knowledge to hundreds of thousands of retail sales associates from small shops to major retailers across the country. The goal is simple: Meaningfully improve the customer buying experience, reduce returns and boost brand loyalty. Retailers using 3point5.com tell us all three things happen because their sales force is better able to articulate value. We like to call it “the power of experts.”

Could this paradigm shift end the price wars game? Probably not, but it certainly will help consumers get the product that was right for them which will drive the value consideration!