Glen Wallace said he thought the time was right for online shopping to take off and the buy-in from local and national clients underlined it.
"It is a growing phenomenon throughout the world and although there have been significant failures in this area I am confident that PriceDirect.co.nz has the right formula to succeed."
Mr Wallace had a strong background in online shopping, previously working for Fairfax Digital in Sydney, managing the Fairfax portal and online shopping directory.
"I was employed just before the dotcom bubble burst when internet stocks were running at a record high based on false promises. The cost of sale was too high in relation to the revenue generated, so nobody was making any money."
At that time, the cost to set up an e-com website was at least $100,000, with another $100,000 annually for a web developer to run the site, with business development, account and sales managers additional expenses.
These days, it is much less expensive.
E-com websites can be set up at a fraction of the cost and typically run by the owner, or staff, rather than a web developer, which is the basis on which PriceDirect.co.nz operates.
PriceDirect targeted small to medium-sized businesses which needed representation on the web at an affordable rate.
"The internet is so vast it is often difficult for people to find what they are looking for," Mr Wallace said.
"Some companies are building great websites, with great products, but no-one knows about them. To take a new product to market through traditional retail avenues is very expensive and many great products never see the light of day.
"Our aim is to create a win, win and win situation. A win for the customer in finding a unique selection of products at great prices.
"A win for the retailer with an affordable sales channel and a win for PriceDirect with a viable online business."
