How to make Auctioning a Profitable Business
It wouldn’t be exaggeration to say that hundreds of thousands of people from across the world visit buy and sell myriad products on auction sites. One popular site has a market share of 76%, reports 42.7 million users recording a growth rate of 100% every year!
What are these auction buyers looking for?
A poll conducted by Harris Interactive on 2,196 people shows that online auctions appeal to people for the following reasons.
– Bargains (43 percent)
– Hard to find items (23 percent)
– Collectibles (21 percent)
Not just that, a record 83% people have actually bought something!
Buying What?
People visiting auction sites buy all sorts of products from different categories, but it simply doesn’t mean that everything and anything sells. What is critical, in this context is Targeted Marketing, more so, since auctions, as days went by has become a serious business line. The buying on auction is no longer restricted to sales only, most of the firms are using the auction sites to generate business and traffic to their own sites with added...
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