Introduces the“Competitive Shopping Marketplace” Making Shopping Online More Affordable for Consumers and More Profitable for Merchants.
Introducing the Competitive Shopping MarketplaceMarketplace: A commercial world of buying and sellingCompetitive Shopping: The process whereby consumers bid against each other with pre-purchased bids in an effort to win an auction item at discounts of up to 95% off the retail price.Competitive Shopping Marketplace: A marketplace where merchants enable consumers to engage in Competitive Shopping to earn discounts of up to 95% off the retail.
Components of Competitive Shopping• Bundle of Bid Credits at $1 per credit
Components of Competitive Shopping Auction type Auction product Last auction price Merchant logo
Components of Competitive ShoppingCurrent auction price Auction clock Avatar & username of the last bidder Auction bid button Break down of discount compared to the retail price
Components of Competitive Shopping History of the most recent bids Auto-bidder consoleSponsor merchant’s logo Discounted Buy It Now price Buy It Now button
Components of Competitive ShoppingBuy It Now buttons Buy It Now prices Current auction prices Bid buttons & Auction clocks Sponsor merchants username of the last bidder
Competitive Shopping Quick Facts• Bids cost $1 each• Each bid increments the auction price by $0.01 (a penny)• Each bid resets the auction clock to the 10 second mark• There is one winner per Competitive Shopping round• Every Competitive Shopping round offers a Buy It Now option• The Buy It Now price is the retail price minus the total value of spent bids.
Competitive Shopping Example A $25.00 Amazon gift card sold for only $2.50 in a recent Competitive Shopping round. The winner was able to purchase the gift card at a substantial discount of 90% off the retail price. $ 2.50 (Competitive Shopping Price) $ 25.00 ( Retail Price)In total, there were 250 bids. With each bid costing $1, plus the final value price of $2.50the Competitive Shopping round generated $252.50 in gross revenue.The net profits earned in this Competitive Shopping round was $252.50 - $25 = $227.5Because the Buy It Now option allows a user to apply the total value of their spent bids to the Buy It Now price, net profits may be lowerdepending on how many users elect to use the Buy It Now option.
Conclusion• Competitive Shopping offers consumers an entertaining & new way to shop and save with multiple merchants.• It enables consumers to compete for substantial discounts on popular high- priced products such as: gift cards, smarphones, tablets, notebooks etc…• Consumers can apply a bid before they buy strategy to possibly win their desired product(s) at substantial discounts of up to 95% off the retail price.• It has the potential to greatly increases our partner merchant’s net profits.• It will increase our partner merchant’s retail sales via Buy It Now.• It enables each member to earn a permanent monthly store wide discount from 2% to 50% once per month on any product from any of our partner merchants.