Customers Buy Bids in Advance For Swoopo Auctions
by Guest Author on September 22, 2009
in Internet Marketing
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One of the world’s most innovative auction sites, Swoopo, was founded in Germany in 2005. According to its Web site, the company sells premium products like: computers, cameras, game consoles and even cars, at very low prices based on a unique software solution and business model. The company’s Web site says Swoopo auctions over 10,000 products per month and has more than 1.2 million registered customers.
It works this way: Online customers purchase “bids” in advance. They cost 60 cents each and are sold in packs of 40, 75, 150, 400 or 1,000. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the “BidButler.”
Every bid placed increases the price of the product by 12 cents and the auction countdown by up to 20 seconds. To help keep track of the money spent on bidding, each auction displays the amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment.
When the countdown reaches 0:00, the “last bidder standing” wins the auction — usually at a very low price. According to the company Web site, winners save, on average, 65 percent when compared to the recommended retail price.
Swoopo was successfully launched in the UK in December 2007, followed by Spain in May 2008 and the US and Austria in September 2008.
Swoopo is an Internet company with a unique, worldwide business model. Swoopo states it is the creator of “Entertainment Shopping” on the Internet, and, one of the first companies to combine e-commerce and entertainment. From the first to the last second, all of its auctions are buzzing. Top of the range, brandname products are available for every user at extraordinarily low prices, Swoopo’s Web site states.
The company’s staff has the passion and ambition to carry the Swoopo idea from its origin in Munich to the rest of the world, on the way establishing the company as a major international e-commerce player, its Web site states.
