The illusion of discounts
Let’s imagine that today you could get the first iPhone model for €20 vs €500 back in 2008. Would you consider it a good deal, with a great discount? Probably not. The price would be low because the technology is completely obsolete and worth only as a collectable. Technology loses its value when it is replaced by something better. The mere realisation of obsolescence is not a discount, only that you are buying something “old”.
In some circles, people who buy technology at full price are seen as fools because they are paying the novelty premium. For clothes that might be true, as there is no technology and a cotton sweater today should be worth roughly the same in one year’s time – but definitely not the same with technology!
Technology moves fast and it can clearly help us on our everyday life. We can get more productive, capture moments with higher quality, connect faster, feel our needs in a better, save time. There is a clear benefit in getting the latest technology and this is what we want to reward.
From discounts to cash rewards
Over time, people got used to waiting for discounts but often realise it was not worth it – product already sold-out, discount too low in the end, are common complaints. We wanted to end this!
With Tagpeak, we take a new approach – every purchase gives you access to our cash rewards club, so that you can comfortably buy the latest technology products, knowing that we are battling to get you some money back. We believe that the best way to go about discounts is to not have any discounts, but to instead make all products eligible for a cash reward and give you the confidence to buy earlier and enjoy the products you love. By joining our cash rewards club, customers get a share of our profit, which can go up to 100% of the price they paid. We are the first company in the world to take this bold approach.
Truly focused on the customer
Our business model is different – we make money only if we succeed in rewarding our customers. That way we are aligned with customers, building a degree of trust that was unseen in the retail industry. We felt that being on the customers’ side was vital for developing this new concept. In the end, we are all customers and we all want good deals!
Welcome to Tagpeak!