WINBIX - is a new sales channel, which allows to sell goods at the request price at any time.

What is Winbox?

WINBOX - is a new sales channel, which allows to sell goods at the request price at any time.

How the system works

This system uses a reverse auction model. The price of the item decreases until one of the participants stops the auction. The first buyer to stop the auction wins.

Bidding and lower prices are determined by the WINBIX system using special algorithms that take into account the seller's requirements, the number of participants in the auction, the results of previous rounds and other factors. Thanks to this algorithm, it is not possible to predict how the auction will proceed.

In this article, I want to write about the most important functions of our electronic platform, which we have been using for the past six months.

As you already know from our video, the price of each product posted on our website continues to decrease. The seller sets two prices when posting items on the site: the initial price and the minimum price that is ready for sale. Using this data, the market launches an auction where prices start to decline for each item from the top value to a lower value.

When a user oversees items on the site, he doesn't know the minimum price (this is the seller's secret). What do buyers see?

For each auction, the buyer has access to information about the initial price (the one at the beginning of the auction) and the current price (formed later), the amount of savings and timer, which indicates when the next price decline will occur.

The user can make one of two decisions at any time: stop the auction by clicking the "buy now" button (this means that he is obliged to buy the item specified at the current price), or wait for the next price reduction and possibly get the item at a lower price . The buyer does not know the exact value of the price of the product will reduce the next time. The price step is determined by a special secret algorithm and it is random. Also, every other user can buy this product at the current price at any time, in this case, the lot will be completed and the system will form a new lot for this product, and the price reduction will start from the initial value.

What happens if the user stops the auction but doesn't buy the product?

That is the same as if someone made a bid at the auction, but he did not have the money to pay for the goods. In this case, the system imposes certain sanctions on this user, for example, temporarily blocking the possibility of his participation in other auctions.

Lots and items - what's the difference?

In our system, lots are presented as ordinary items: You can look for them, filter with various parameters, see the product card and its characteristics (like in the regular market). However, many are many. You need to understand that the system can have several lots for each product and each lot has its own history. If lots are sold (with appropriate items), the system will launch a new auction for the same product (if available in the warehouse) and this will be a new agreement.

At the same time, we have developed functionality to change prices online in product catalogs without reloading pages. For each lot, there is a history of changes.

In the future, we will be able to determine which price reduction strategy is optimal, based on the data on the lot purchased.

What are the advantages of such a price reduction system?

Consumers buy goods at prices that are suitable for them;

As a result, buyers influence prices;

The seller sells the items, which will be available in stock;

The seller receives sales statistics at the appropriate price;

What are we working on now:

We are improving the lot system. This mechanism is working, and we test it under different conditions and with different data inputs to achieve maximum efficiency.

PREDAICO

50% - marketing costs for platform advertisements outside Russia
18% - compensation for financing losses if some participants leave the project (formed from TAP). If, at the end of the funding phase based on the PreDAICO smart contract there is still a balance that is not burdened, it will be used for DAICO advertising
10% - operating costs associated with maintaining trading platform activities
7% - DAICO smart platform and contract development funding
5% - illegal support (including TM registration, patents, etc.)
5% — DAICO advertising fees
3% - marketing analysis: preparation for the post DAICO stage (marketing efforts in other countries; we will use our experience working with Russian-speaking countries to analyze retail margins)
2% - keep it

DAICO

50% - marketing costs for platform advertisements outside Russia
18% - compensation for financing losses if some participants leave the project (formed from TAP). If, at the end of the funding phase based on the PreDAICO smart contract there is still a balance that is not burdened, it will be used for DAICO advertising
10% - operating costs associated with maintaining trading platform activities
7% - DAICO smart platform and contract development funding
5% - illegal support (including TM registration, patents, etc.)
5% — DAICO advertising fees
3% - marketing analysis: preparation for the post DAICO stage (marketing efforts in other countries; we will use our experience working with Russian-speaking countries to analyze retail margins)
2% - keep it
60% - marketing costs to advertise platforms outside Russia
18% - compensation for financing losses if some participants leave the project (formed from TAP). If, at the end of funding based on DAICO's smart contract, there is a balance that is unencumbered, it will be used for marketing costs for advertisements outside Russia.
10% - operating costs associated with maintaining trading platform activities
5% - funding platform development
3% - marketing research
2% - illegal support from the development process
2% - keep it