Decide.com Says It Will Accurately Predict Prices or Your Money Back
Decide.com helps eliminate buyer’s remorse by predicting whether the price of products will rise or fall. Now it is confident enough about some of its deals that it’s offering a money-back guarantee.
Starting today, Decide.com will choose 10 deals that it is so sure about that if its prediction proves wrong and the price drops within two weeks of purchase, Decide will automatically alert the buyer and pay them the amount of the price drop (up to $200).
The new feature is being launched today by the Seattle company, which is the brainchild of the folks behind Farecast.com. Like Decide.com, Farecast predicted whether it was the right time to buy an airline ticket. Farecast is now part of Microsoft’s Bing. Unfortunately, Farecast never had a guarantee.
In a statement, Mike Fridgen, president and CEO of Decide, said: “We want to show our users this isn’t just lip service — we’re actually willing to put our money behind our data-driven recommendations.”
The guarantee will be applied to 10 designated deals on the site every day, from consumer electronics to refrigerators and videogames.
Today’s deals include an HP 14-inch laptop for $500, representing a 23 percent savings; a 55-inch HDTV from LG that costs $1,199, representing a savings of 37 percent; and the Haier 1.7 cubic-foot refrigerator for $80, representing a 20 percent savings.
If any of those products become cheaper over the next two weeks, a buyer needs only to submit a photo of themselves with the product, and then Decide will send the money via PayPal or check.
While it sounds generous, the program probably pencils out financially, too. Of course, Decide hopes that its predictions are correct, but if they aren’t, the company has some buffer, because it earns a commission on the sales it generates.
To be clear, the company is not partnering with the retailer on these deals, but it does earn a referal fee or commission from the retailer if it generates a sale. Some of those rates are hefty; Amazon, for example, pays 4 percent on electronics product referrals.
Since launching last June, Decide says it has served up more than seven million recommendations, which have resulted in an average savings of $87 per product.