Most
people think that the future of shopping stops at the online arena, such as
Amazon, eBay or the shopping portals of already known brands. But the thing is they’ve just only scratched
the surface of the ultimate shopping experience, one that combines
entertainment with the consumer experience.
Entertainment after all is seen in shopping channels as part and parcel
of the buying experience but that’s not the case in penny auctions. That’s because in this newest for of shopping
penny auctions give the participant of the auction entertainment even if in the
end he doesn’t buy a single thing!
Let
me elaborate on this in this article:
All inclusive style of shopping. Penny auctions presents a new style of shopping and
turns online auctions like eBay on its head!
You see, when people participate in penny auction they continue
participating on even if more bids get piled on the pot. In an eBay auction, people will normally see
this as a sign to ditch their bidding because they could no longer afford the
item in question. People start falling
out of participating because the pot has made the item price too high. eBay bidders, by bidding more than they can
afford run the risk of overspending on their bidding session, but in a penny
auction, since the resulting bid is only increased incrementally by a penny by
every bidder anyone patient enough to wait out the auction is able to buy the
item. Anyone with a penny can thus be
called a winner, unlike in traditional auctions where only people with a lot of
money can win the auctions. To an extent
this democratizes the online shopping space so everyone will be able to afford
honest to goodness entertainment shopping.
Entertainment Shopping. As said earlier, bidding in traditional online
shopping is risky business because it can cause people to lose a lot of money,
striving to win something in an auction that they don’t readily afford. Bidding however is entertaining business—one
not only makes a purchase, one actually becomes a runaway winner of a shopping
item. This can explain why a lot of
people get addicted to eBay—and also why some incur a lot of debt. However penny auctions are where
entertainment properly meets consumer purchasing because of the concept of
winning that penny auctions presents to any user.
If
you have tried bidding in eBay and found yourself enjoying the whole deal then
perhaps penny auctions will give you an even more fun experience. That’s because while you are receiving the
excitement of bidding and competing with hundreds if not thousands of other
people for the prize, you will alsop be in the game without risking a lot of
money because the auction will only list an amount that will be incrementally
added upon with every bid by a penny.
The lure of high luxury items for only 5% of their original market price
is definitely something people will not be able to resist.
Buying Local. In a world of diminishing resources that is fighting
for practical efficiency, one needs to look for ways to get things done with
minimal effort and spending. The penny
auction does exactly that: whenever one wins an auction his location is
actually identified by the penny auction for them to make a purchase of the
item around his area in order to get him the product that he needs. Obviously this is also a very good way for a
penny auctions operator to ensure a good cashflow—there is no inventory that
needs to be thought about, he has one sure buyer for what he has. Another thing is that the operator will have
very minimal fees to consider, having only a very small delivery charge to
think about.
Easy To Set Up. Most businesses require a lot of
prerequisites before they are able to operate.
This however does not apply to penny auctions sites—it’s very easy to
set one up, given the frameworks that are readily available in the market. Businesses are fast turning to methods such
as the penny auctions system in order to profit as the cost of setting one up
is quite minimal.
This
however also raises an issue of penny auctions that are not legitimate
however. Some unscrupulous sites have
chosen the penny auction model to scam people out of their money by posing as
legit auction sites that offer prizes in exchange for penny bids.
One
way people can avoid being scammed by these sites is by them screening the
penny auctions that they want to join in first by applying a simple Google
search on the penny auction name. Results
will easily come out about the penny auction and if it reveals a lot of bad rap
on the site, then they should avoid it.
Penny auction sites should also put their heads together and set up a
regulatory body that will screen penny auctions between the legit ones and
those that aren’t.
