PriceOye.pk, is a price comparison service that aims to help Pakistanis make great buying decisions. According to the founders, users routinely save more than Rs. 5,000 by checking prices on the site. The service lists automatically updated prices of 400+ phones from brands like Huawei and Samsung (
Price comparison sites are designed to do just what their name implies: compare the price of goods and services from a range of providers. This allows you to make an informed decision about which provider to choose in order to save money.
(Joe Elvin, which.co)
About the Founders
PriceOye was founded by three people: Adnan Shaffi, Adeel Shaffi, and Awais Imran. Together, they have over a decade of experience in internet entrepreneurship, online marketing, and design/development experience. Adnan, Adeel and Awais have the combined relevant experience required for leading a price comparison startup. As professional bloggers, they are skilled at content and online marketing, software design and development and that makes them competitive at providing this service.
We’ve started and sold multiple technology blogs in the past. PriceOye is our first Pakistan-focused online venture.
About the Service
The service was launched in 2016. Since then, PriceOye.pk has been featured in Dawn, ProPakistani, Daily Pakistan, and received mentions in Tech in Asia, and TechJuice. They have crossed 100,000+ monthly visitors which makes PriceOye the most popular price comparison service in the country.
What you see today is just 5% of our grand vision for PriceOye. We are working towards building a complete shopping utility that will help you discover the best product from the right online store to meet your specific requirements.
The existing Industry
PriceOye is part of the fast-growing eCommerce industry in Pakistan, which is currently pegged at $30mn. It is expected to see multi-fold growth and is expected to bring hundreds of millions of dollars by 2020. Their competitors are Price estimation services like, WhatMobile.com.pk and HamariWeb.com.
Our direct competitor in price comparison is PriceMatch.pk.
(Awais Imran, CoFounder)
Entering the Ecommerce space
To decide on a particular space to work on, they looked at South-East Asian markets and discovered an interesting trend, when ecommerce hits the mainstream, price comparison services skyrocket in popularity as more and more people need tools to cut through the fog of online shopping. With dozens of stores and varying customer experiences, similar trends would follow in Pakistan.
As regular online shoppers ourselves, we faced the same issues and wanted to solve it. We’ve been thinking about this for years, but entered the market now because we feel it is a great time to be solving problems with technology-based solutions in Pakistan. After years of serving international audiences with technology blogs, we wanted to do something for our own country. Fast 3G/4G adoption, growing digital awareness, and increasing smartphone adoption are some of the key enablers in this regard.
Following the Glodbal Trends
MySmartPrice in India, and Pricena in Thailand are great examples of international models that inspired the founders. They are amongst the successful examples of price comparison services.
About the Business Model
The founders are currently focusing on building a large, engaged userbase. Monetization they say will follow soon.
Comparison sites – sometimes called shopbots – help you to work out who’s offering the best deal. They make their money when you click on a retailer they feature (Boots, John Lewis, Next), or by taking a small percentage of the sale. Unfortunately, none of them cover every single high street and online retailer, so you’d still be wise to look on Amazon and eBay, too.
The Growing Challenges
The growing challenge in ecommerce portals is the provision of customer convenience. What we like here is the clarity of information, the display and the information available. The consumer could always be mesmerised with the price comparisons.
But the consumers may encounter certain issues when using price comparison sites. Some of these include clogged up email inbox and sms with marketing messages, the level of cushion the cusotmer receives and the counterfeit confusion.
While the ecommerce market continues to grow in Pakistan,the customer still holds back while doing an online purchase. The challenge here maybe to ensure that the customer is buying the original product and not a counterfiet. Price Oye is ready to address these concerns and follow the appropriate mechanisms necessary to deliver a promissing service. For more input and future engagement, you may visit, https://priceoye.pk.
Information Source: Awais Imran @ PriceOye.pk