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Press release

Disruptive price comparison app wins Singtel’s 2011 “Most Valuable App in Asia” award

Lobangclub aims to bring price transparency to retail in Singapore

October 17, Singapore -

Asia has always been seen as a copycat of innovation invented elsewhere.   A growing list of technology companies are hoping to change that perception.  Lobangclub iPhone app has won the “Asia’s Most Valuable App” award for 2011.  The upstart app that only launched last month beat out a field of over 150 apps to claim the top prize.

The LobangClub iPhone app turns any iPhone into a barcode scanner using its camera, and then checks a database for prices that other users have uploaded. At a glance, a shopper can see if other shops nearby offer the same item at a lower price.

Co-Founder of the company, Guyi Shen, says that the company is “focused on giving power back to consumers”.  He claims that by collecting the product and price knowledge of thousands of individuals across the island, everyone benefits by enhancing price transparency for all products being sold.

Currently users are adding prices from an eclectic mix of products ranging from books to cigarettes.   But some real savings are being found, for example, during the course of 48 hours, users of the app entered prices for a bottle of Sunsilk Shampoo that ranged from $10.90 at NUTC to $5.70 at Swanston.

Mr Shen says that the app is doubling in users every week and currently stands at 8000 users in Singapore.

Press release

High-tech trend in shopping hits Singapore shores

Shoppers are using their smartphones as a weapon to bludgeon retailers

into giving better prices, will this work in Singapore?

September 28, Singapore – The mobile power shopper trend in retail shopping has hit Singaporean shores.   According to the New York Times,  since the iPhone and Android smartphones have debuted, a growing horde of mobile power shoppers have been using their smartphones as a weapon to compare prices at the point of purchase and forcing retailers to match the lowest price.

Singaporean company  Lobangclub releases an iPhone app that encourages Singaporeans to actively compare prices amongst local retailers.   The app finds you the lowest price for products by relying on a community of shoppers who come across low prices and keying them into a community database.   Founder of Lobangclub Guyi Shen described it as a “Wikipedia for Singapore shopping”.

The user uses the iPhone’s camera to scan the barcode of the item.  The app recognises the information and displays a list of all the shops that carry the product and their prices.  You are then encouraged to verify if the price is accurate and contribute a new price at the store where you are.

Joe Goh, a father from Bedok, recently used it to find some batteries for his camera.  A quick trip to the Jurong point shopping centre, revealed that out of all the stores within Jurong point there was an almost 30% difference in the cost of a pack of energiser AAA batteries ranging from $13.90 at Challenger to $10.90 at NTUC, “I saved $3 in the space of 5 seconds, just doing a quick scan, no need to be kiasu and walk all over the place, it’s all right there in your hand”.

Not all are in favour of this trend, noted technology publisher Tim O’reilly is quoted as saying “pursuit of the lowest price will hasten the demise of many retailers”.

Lobangclub is a Singapore company that provides technology to help consumers make more informed purchasing decisions.

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