Online shopping has grown enormously in recent years. In fact, retail e-commerce sales worldwide are forecast to nearly double between 2016 and 2020. Whether it’s shoes, sheets or shampoo, more and more Americans are going digital to shop for goods. What makes buying online so alluring is the unique mix of advantages that shopping on the internet offers. There’s ease of use (just jump on the web), massive selection (you’ll never hear, “Sorry, we don’t have that size in the back”), customer tips (reviews and recommendations can point you to an underground gem you never knew about), any-time shopping hours (open 24/7!), and good prices (you no longer have to wait for Cyber Monday to get a good deal on the internet).
Still, as much of a game changer as shopping digitally is, the expectation of getting a good price can leave even the most dogged shopper frustrated. Between hard-to-find discount codes and hidden shipping costs, there can be uncertainty involved in trying to save money online. It’s not unusual to invest a lot of time clicking around looking for a fair price, almost like navigating a virtual corn maze.
Helping customers navigate this dynamic landscape and leverage the seemingly endless options in order to get the best value is what has driven the creation of the online shopping tool Wikibuy. Founded and based in Austin, and acquired by Capital One in 2018, Wikibuy is a completely free tool that makes it effortless for consumers to save by automatically finding lower prices, coupons, and rewards when users shop online. Shoppers can install Wikibuy’s browser extension or app, and from there, it will act as a second set of eyes, seamlessly hunting for hidden savings. This customer-centric tool has grown to over 2 million members who have collectively saved more than $50 million, helping each other shop smarter and feel confident in their purchasing decisions.
When customers find a product online that they’re interested in, Wikibuy hunts for a better price by instantly scanning a multitude of retailers across the internet. At the same time, it automatically locates, verifies and applies valid coupons. If the user is not satisfied with any available discounts or coupons at that time, Wikibuy can also add items that users have viewed to a watch list so that they can keep an eye on a product for any future price drops or discounts. This makes for a truly personalized and hassle-free experience for customers.
Online shopping has become a big part of consumers’ lives, having doubled over the past decade, and based on the trends in retail sales, analysts project that the growth in buying over the internet will only accelerate in the coming years as consumers become more and more comfortable making digital purchases.
With the continuation and growth of online shopping, comes the sustained and increased need for tools to navigate and leverage this complex digital landscape. Wikibuy will be there to support consumers in meeting this challenge, helping online shoppers take an automated, proactive approach to bargain hunting rather than having to resort to the eye-glazing drudgery of clicking around for the right price. Wikibuy essentially takes the hunt out of bargain hunting.
Walt Roloson is Vice President of Business and Co-Head of Wikibuy. Roloson has led the company’s business activities including marketing, sales and finance and assisted with team building across the company as well as developing exclusive retail partnerships to enhance incremental business and acquire new customers.
Adam Gauvin is Vice President of Product and Co-Head of Wikibuy. Gauvin has helped grow Wikibuy from an idea to a community of two million members. He has deep roots in the online cost-savings space, having served as Director of Product at RetailMeNot prior to joining Wikibuy. He has also served in leadership roles at LinkedIn and Citigroup.
Roloson and Gauvin are featured speakers at this year’s Capital One House at SXSW -- to learn more, visit Capital.One/SXSW.