Aussie electronics entrepreneur Ruslan Kogan today unveiled what he describes as a "revolution in online shopping"— a preorder option for electronics called LivePrice.
According to a press release from Kogan, LivePrice will offer customers the opportunity to buy a product well before it's manufactured for a heavily discounted price. This retail price will increase during the different stages of development and manufacturing until it becomes available to customers at full price.
"Even though no other manufacturers or retailers are up front about it; every product you purchase has a cost of finance included in its price," says Kogan in a statement.
"We're not scared to admit that manufacturing new products means that money needs to be spent up front, which typically means a hidden cost of finance. We just don't want the customer to have to foot that bill."
LivePrice launches today on Kogan's new UK sales site. It is currently offering a 40-inch LCD TV for £429, but warns that the price will rise to £529 when it is released to market. This specific TV won't ship until the end of January 2011 at the earliest.
What do you think about LivePrice? Would you buy a TV several months in advance without the opportunity to look at it in action? Let us know in the comments below.