But this takes it to a new level. Now, we are actually being paid money to make the market even more efficient, and expert bargain-hunters, by sharing their information, make the price even more efficient, at least for those with a BeatThat account.

From our point of view in our role as customers, it’s great. The downside is that it squeezes the sellers even harder, driving their margins way down, and giving them even more incentive to cut their own costs, which is not always so great for the employees of the retailer, as Reich points out. BeatThat isn’t to blame, of course; this is a macro-trend in modern life. BeatThat is just one more element of the arms war between the retailers and the customers.

It’s also a cool idea and I wish them the best of success.