Customers buying new industrial equipment often feel that they are at the mercy of suppliers who use outside factors as an excuse to the inflate prices of their products. This can influence the decision-making process and actually result in purchasing delays.
Transparency in terms of pricing and external factors such as exchange rates not only allows customers to plan the timing of their investments, but it also allows them to predict or pre-empt the best conditions for them to implement their purchasing programmes. The unfortunate situation is that in most cases they do not have access to all the necessary information and have to go on best-case or gut-feel for these decisions.
Buythis Online Store is taking its customer service to the next level by providing prospective customers using its Buythis website with a complete overview of the selling price for of all the equipment and it supplies. The selling prices listed range for the past months some even years according to the specific product being listed and are displayed in graph form. This way, specific influencing factors such as exchange rates to the US Dollar and the Chinese Yuan, as well as transport costs can be seen and displayed visually allowing customers to make their purchasing decisions at the optimum times.
Exchange rates fluctuate daily, transport costs are often directly linked to the international oil price which generally moves more slowly and therefore, these factors have a direct but trackable impact on the cost of the equipment. By monitoring the weekly price on the Buythis website, customers can be better informed of the ideal times to place their orders.
The historical pricing data obviously does not act as a predictor of future costs but it is a weekly representation of the pricing of each specific product and can, over a period of time, provide some indication of whether prices are moving up or down based on the influence of the external factors.
Said Eric Yin, managing director of Buythis and Advanced Machinery – the major supply for Buythis, ‘It is our aim to assist our customers as much as possible to buy at the correct time and for the best price possible. This is why we have added this feature to every product available on the Buythis website. We want our customers to have as much information as possible for their purchasing decisions. With two airfreight and two sea freight shipments per month, we are trying to ensure the fastest possible delivery to our clients at the most cost-effective prices on the market.’