Turning prices upside down under?
Aussie consumer electronic brand Kogan has launched a website for Brits, vowing to save them between 20 and 50 percent compared to its competitors' prices.
Just like German audio brand Teufel (and formerly Dell), Kogan sells its stuff - TVs and GPS systems - exclusively direct to customers.
The company has been going strong in its native Australia, shifting over 100,000 products in the past 5 years. The firm's founder and CEO, a 27 year-old entrepreneur called Ruslan Kogan believes its arrival in the UK will ‘turn the consumer electronics industry in this country on its head' warning that most UK consumers are paying over the odds for TVs to the tune of millions of pounds.
"UK consumers have been paying rip-off prices for everyday electronic goods and that should not be happening. We are here to shake up the market and transform the face of consumer electronics so customers get a fair deal," he said.
"UK High Street retailers all have a web presence, which is commendable. But why are they charging the same prices online as in store? Is it fair that an online customer should be helping pay for the rent, overheads and other inefficiencies associated with selling through a shop?" he added.
Kogan believes selling online is all about efficiency and firms should pass savings from not having overheads onto their customers. He said the internet has made it possible for manufacturers to communicate directly with consumers, cutting out the middlemen.
Kogan claims his self-named brand is one of Australia's fastest growing companies.
"In the same way that Sir Richard Branson comes to Australia to innovate in flailing industries, Kogan is going to breathe new life into the UK electronics retail industry and give people what they want - quality products at fantastic prices," he said.
Kogan is entering the UK market with its range of LCD tellies and GPS devices with plans to expand its offerings in ‘coming months'.