OLX rolls out 'Bargain' feature, enabling buyers to negotiate up to 40% off

OLX Embraces Negotiation with New "Bargain" Feature

The popular online classifieds platform OLX has introduced a groundbreaking feature that injects a dose of spirited negotiation into the buying and selling process. Dubbed "Bargain," this new functionality empowers buyers to propose their own prices, potentially securing discounts of up to 40% off the seller's initial asking price. This move signals a significant shift towards a more dynamic and personalized marketplace, reminiscent of traditional street markets but with the convenience of digital interaction.

How the Bargaining Process Unfolds

Integrating seamlessly into the existing user interface, the "Bargain" option now appears alongside the familiar "Buy with delivery" button. Upon clicking this new button, potential buyers are presented with an interface to submit their counter-offer. This proposed price is then relayed directly to the seller via the platform's chat system. Each offer arrives as a distinct card, clearly indicating the new price and emphasizing that the proposal is exclusively tailored for that specific buyer. Sellers are then presented with two straightforward choices: accept the buyer's proposed price or make a counter-offer of their own. Once an agreement is reached and confirmed, the buyer will see an updated "Buy with OLX delivery" button, reflecting the mutually agreed-upon price. The subsequent steps of the transaction proceed with the standard OLX delivery checkout process, ensuring a smooth and secure transaction.

Understanding the Discount Framework

The "Bargain" feature operates within a defined framework, capping the maximum allowable discount at 40% of the original listed price. For instance, if an item is initially priced at 100 UAH, the system will prevent the buyer from negotiating a price lower than 60 UAH. This thoughtful limitation aims to strike a balance, encouraging negotiation while safeguarding the interests of sellers and ensuring the viability of the platform's business model.

A Competitive Landscape: Monobank's "MonoBazar"

The introduction of OLX's bargaining feature arrives on the heels of a notable launch from monobank – its "MonoBazar" platform. Operating directly within the banking application, "MonoBazar" offers a similar focus on second-hand goods, but with a distinctive set of advanced features. These include automated negotiation tools, AI-powered ad creation, and a charitable component allowing users to direct sales proceeds to support the Armed Forces of Ukraine. "MonoBazar" garnered impressive traction, attracting 230,000 users in its first day, facilitating 3.5 million UAH in transactions, and saving users approximately 165,000 UAH through its negotiation features. This competitive environment underscores the growing demand for innovative and user-centric features in the e-commerce space.