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by ptasci67
3722 days ago
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I am curious about the alignment of incentives here. As others have pointed out, this industry is notoriously expensive with vendors enjoying comfortable profits without having to go through this direct competition platform amongst their peers. What incentive do they have for joining the platform? Furthermore, what incentive does a couple about to get married have for joining the platform? It sounds like they are somewhat locked into the vendors that come to them. I think you mention that they can cancel but then there is then no incentive for the couple to take it seriously. It turns into quote shopping instead of an actual marketplace. I like the idea because this space is ripe for change. There is a lot of money flowing around and people who get married are confused about where is the best/most affordable/most reputable place to put it. I think if you can align the incentives on both side properly, this could be a real winner. |
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On the vendor side, one thought is that we may need to consider being less of a market place and more of a tool that allows couples to quickly iterate and pay for services with any vendor. So the discovery of the vendors could happen outside of our service, and we help with the pain points of initial iteration and payments. Eventually we could open up the market place as an addition to our services.
We're super early, so your thoughts and others are helping us shape our development. Thanks again.