The nuts and bolts
Retailers who sign up with PriceLocal receive a text when someone in their area is looking for the type of product they sell. If the store can match the Amazon Prime price on that item the customer is emailed a coupon that they can print or show on their phone at the store.
The retailer also has the option to either offer to order the item or sell a comparable model in stock at the Prime price.
Eric Barnes co-owns two Ace Barnes hardware stores in Ann Arbor, Mich., a business started by his grandfather in 1939. His stores received nearly 400 leads during the PriceLocal pilot test.
Barnes doesn't have any hard numbers, but he is sure PriceLocal resulted in sales to people who didn't know he carried the item they wanted.
Sometimes matching the Amazon price meant selling something at less than the normal in-store price. Barnes figures that if he can get that customer into the store, he might also be able to sell them something else.
"We love the brick and mortar part of the business," Barnes said. "Yes, we have higher overhead, but we sell things by giving them customer service and if we can still do that and fight off the big boys like Amazon, I'm all for it."
The Price Local service is free to retailers and customers. So far, the company hasn't said how it eventually plans to make money on the program.