User:Darcy Whittier/Chiching

Chiching name your own price
 * 1) Website www.chiching.com

Chiching is an ecommerce company based in San Francisco and was founded by Andrey Yruski in 2013. It uses a transparent Name-Your-Own-Price NYOP model that allows buyers to select dealers that they want to buy a prepaid discount voucher from. Buyers also choose the value and discount that they want. These selected dealers can choose whether to accept the buyer’s offer. See also Free Market and Participatory economics

Chiching’s dynamic ecommerce model reduces buyer negotiation uncertainty and allows dealers to accept offers that are profitable and timely. After the buyer’s bidding, if no dealer has accepted the user's price, the user receives nothing. If a dealer does accept the offer’s discount terms, the customer can use their voucher during the business hours that were specified in their offer. This transparent use of NYOP system helps establish transparency and goodwill in the marketplace and educates consumers about what types of deals are reasonable and business friendly.

To redeem a voucher, the buyer schedules an appointment for any of the dealer’s normal set of offerings and spends the voucher in one visit toward their total bill. They must pay any difference out-of-pocket. This discounted transaction does not disrupt business activities nor affect the overall customer experience or perception. Avoids Groupon Effect

This dynamic NYOP model is well suited for service providers because they can control their profit margin, bring in clients during slower business hours, and liquidate inventory on terms that suit their needs. Internet sustainable business. No market cannibalism

Vouchers expire after 30 days of issuance. This ensures that the dealer is not responsible for unredeemed vouchers accumulating and an accepted offer’s discount and timing limitations do not become outdated. Customers receive a full refunded credit for the voucher’s paid amount.