The shopping experience has transformed immensely over the last several years, with the rise of online stores and next-day deliveries. Now, this experience is transforming even further as shoppers can negotiate with AI-powered chatbots as if haggling with salespeople at a bazaar.
Nibble is one such AI negotiation platform which has recently made waves online after partnering with brands such as ASOS, helping customers save money online. Rosie Bailey, CEO and co-founder of Nibble, spoke to MediaCat Magazine about the inspiration behind Nibble and how it benefits shoppers and retailers.
Hi Rosie, what inspired the idea for the AI-powered negotiation chatbot?
Rosie Bailey
Nibble was inspired by an in-person negotiation by my co-founder, Jamie Ettedgui. He walked away from the experience with a price that worked for him and for the seller, and both of them had an enjoyable interaction. He thought, ‘Why can’t I do this online?’ — and it took off from there.
Nibble recently launched on ASOS, allowing shoppers to negotiate prices with a chatbot. How do we access Nibble and how does it work?
Shoppers will see Nibble on a variety of retailer sites and access it in different ways, sometimes in a clearance section or possibly as a reward for loyal customers in an email from your favourite brand. Nibble allows you to have a conversation with the brand to find a win-win deal that works for you both.
What benefits does it add to the shopper experience, besides saving us money?
It lets shoppers talk to the brands they love, fostering a deeper connection and personalised experience. It gives you the agency to ask for what you want so you don’t always have to wait for the next ‘holiday sale’ when your favourite item or the right size may sell out.
How do brands benefit from an AI negotiation tool that allows their customers to spend less instead of paying full price?
Brands use all sorts of promotions and Nibble is a new option for them. It’s a better way to engage with customers because it is on-brand and helps to build a relationship. For our clients who use Nibble regularly they have seen that connection result in higher loyalty and consistent +10% repeat order rates over a two-year period.
Nibble also helps many brands clear inventory that might otherwise go to waste, by letting shoppers name their own price in an outlet section.
For September we’re exploring fashion. Whilst Nibble has had positive reaction, it’s also been critiqued for its potential to fuel fast fashion. What’s your response to this?
We are a technology company and Nibble’s AI negotiation is used across various industries, including B2B networking equipment, pharmaceuticals, consumer electronics, furniture and fashion.
I’m not a fashion expert, although I recognise the industry’s challenges, such as over-production and waste. I am sure the solution will be complex and different for different brands. If the retail market could respond more dynamically to supply and demand, it might help address these issues and I believe that personalisation technologies like Nibble have the potential to be part of the solution.
Finally, Nibble has been nominated as the finalist for the Innovation in AI Award. What are your plans for the future development of the AI tool?
The chatbot will handle increasingly complex negotiations, for example on contracts that require negotiation on multiple terms and in B2B e-commerce, not just for DTC brands. We have already handled over 1 million AI negotiations — we want to be the most sophisticated AI negotiation platform there is, grounded in behavioural science and academically proven negotiation techniques.
Svilena Keane, Content & Social Editor at MediaCat Magazine
Svilena is the Content & Social Media Editor at MediaCat Magazine. She has a joint bachelor’s degree from Royal Holloway University, where she studied Comparative Literature and Art History. During her time at Royal Holloway, she was also the Editor-in-Chief of the student newspaper The Founder. Since then, she has worked at a number of digital and print publications in Bulgaria and the UK, covering a wide range of topics including arts, culture, business and politics. She is also the founder of the online blog Sip of Culture and a self-published poet.
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The shopping experience has transformed immensely over the last several years, with the rise of online stores and next-day deliveries. Now, this experience is transforming even further as shoppers can negotiate with AI-powered chatbots as if haggling with salespeople at a bazaar.
Nibble is one such AI negotiation platform which has recently made waves online after partnering with brands such as ASOS, helping customers save money online. Rosie Bailey, CEO and co-founder of Nibble, spoke to MediaCat Magazine about the inspiration behind Nibble and how it benefits shoppers and retailers.
Hi Rosie, what inspired the idea for the AI-powered negotiation chatbot?
Nibble was inspired by an in-person negotiation by my co-founder, Jamie Ettedgui. He walked away from the experience with a price that worked for him and for the seller, and both of them had an enjoyable interaction. He thought, ‘Why can’t I do this online?’ — and it took off from there.
Nibble recently launched on ASOS, allowing shoppers to negotiate prices with a chatbot. How do we access Nibble and how does it work?
Shoppers will see Nibble on a variety of retailer sites and access it in different ways, sometimes in a clearance section or possibly as a reward for loyal customers in an email from your favourite brand. Nibble allows you to have a conversation with the brand to find a win-win deal that works for you both.
What benefits does it add to the shopper experience, besides saving us money?
It lets shoppers talk to the brands they love, fostering a deeper connection and personalised experience. It gives you the agency to ask for what you want so you don’t always have to wait for the next ‘holiday sale’ when your favourite item or the right size may sell out.
How do brands benefit from an AI negotiation tool that allows their customers to spend less instead of paying full price?
Brands use all sorts of promotions and Nibble is a new option for them. It’s a better way to engage with customers because it is on-brand and helps to build a relationship. For our clients who use Nibble regularly they have seen that connection result in higher loyalty and consistent +10% repeat order rates over a two-year period.
Nibble also helps many brands clear inventory that might otherwise go to waste, by letting shoppers name their own price in an outlet section.
For September we’re exploring fashion. Whilst Nibble has had positive reaction, it’s also been critiqued for its potential to fuel fast fashion. What’s your response to this?
We are a technology company and Nibble’s AI negotiation is used across various industries, including B2B networking equipment, pharmaceuticals, consumer electronics, furniture and fashion.
I’m not a fashion expert, although I recognise the industry’s challenges, such as over-production and waste. I am sure the solution will be complex and different for different brands. If the retail market could respond more dynamically to supply and demand, it might help address these issues and I believe that personalisation technologies like Nibble have the potential to be part of the solution.
Finally, Nibble has been nominated as the finalist for the Innovation in AI Award. What are your plans for the future development of the AI tool?
The chatbot will handle increasingly complex negotiations, for example on contracts that require negotiation on multiple terms and in B2B e-commerce, not just for DTC brands. We have already handled over 1 million AI negotiations — we want to be the most sophisticated AI negotiation platform there is, grounded in behavioural science and academically proven negotiation techniques.
Featured image: Nibble