By Aimee Chanthadavong

With the launch of Kogan Technologies’ LivePrice on Wednesday, the consumer electronics online retailer saw the sale of more than $300,000 worth of products.
Owneer of Kogan Technologies Ruslan Kogan told Retailbiz the time has come for online retailers to embrace innovation, based on the success of its LivePrice model

“We're not worried about how other retailers react. We have our blinkers on, and are entirely focused on constantly creating a better way for shoppers around the world to get the latest technology at the best prices,” he said.

“If every retailer emulated the LivePrice model, consumer goods would become more affordable for everyone, which is what we're after."

According to Kogan, the way to draw customers in is to continually innovate.

"Consumers are constantly looking for news things, new products, new ways of buying them, and new ways of interacting with their favourite brands,” he said.

“Steve Jobs didn't announce the first Apple iPod and leave it at that. Constant innovation is what has driven the huge success of Apple's products, and it is constant innovation that will attract more shoppers to online stores.”

RetailBiz contacted Kogan rivalry Harvey Norman’s Gerry Harvey for comment about the LivePrice model but was told he was unavailable for comment.