Good news for shoppers who like to be ahead of the crowd – mobile marketplace platform The List has launched a new way of shopping for luxury items. The e-commerce retailer will now offer immediate access to in-demand, exclusive designer products. No VIP status required; you just need to download the app.
The List recently launched its initial product offering (IPO), which means customers can avoid dreaded waitlists, skip the queue, and receive immediate access to limited, hard-to-come-by items. The platform will also be releasing in-demand products in small quantities, and at specific times, providing the conscious consumer of today just what they need in the current climate – special, unique pieces that stand the test of time.
Founder and CEO Andreas Skorski says that “by dropping unique products in small quantities, at a specific time and market price, which is the purest form of supply and demand, the IPO model is an antidote to the excess inventory, discount battles, and similar assortments most retailers are currently struggling with.” He adds that it will give customers “access to new, exclusive, highly coveted products without restrictions. Consumers are also presented with entertaining, exciting shopping events that provide newness, celebrate product launches, and thus restore the notion of preciousness and value.”
How does it work? According to The List, the IPO is similar to the stock market, in that it has an opening and a closing date and items can only be purchased during this time period. The products will be listed daily at 9.30am EST, at the same time the New York Stock Exchange opens. Their prices will start at the recommended retail price, and then proceed to go up or down, depending on the demand, available supply, and remaining time window. All of this is determined by The List’s in-house-built AI-based pricing algorithm, which takes into account and measures consumer behavior to result in the real-time selling price of an item and thus reflects its true market price.
The luxury fashion platform was established in 2016, and provides access to a variety of products, from one-of-a-kind vintage pieces to essential designer items that have been globally sourced. Fashion brands available through The List include sport labels Yeezy, Nike, and Adidas, watchmakers from Rolex to Audemars Piguet, and timeless vintage wonders from the likes of Chanel, Hermès, and Louis Vuitton.
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