eBay India launches �Bid for a Buck�

Those who are addicted to shopping, particularly online shoppers now have a reason to smile, courtesy, eBay India that has announced a two week �Bid for a Buck� auction.

CJ: merinews network

Sun, May 27, 2007 00:00:00 IST

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INDIANS CAN NOW bid for thousands of products starting at Re 1, with free shipping across the country thrown in on eBay India. Adding an innovative dimension to online shopping, thousands of lifestyle, jewellery, mobiles, computers, electronics, cameras, apparel and travel products are on offer starting at Re. 1 during this promotion from May 18 - May 31.

With the consumer confidence growing towards shopping online, eBay India through the popular One Paisa Auctions format aims at offering all its users a unique auction experience. It is worthwhile to mention that in a few short years' e-commerce transactions will cross the Rs 2300 crore mark (2006-2007) highlighting the growing adoption of the Internet as a legitimate sales channel.

A report by Internet and Mobile Association of India states that the Internet offers an audience that will grow to a 100 million users by 2007-08, offers secure unlimited shelf space and isn't bound by operational timings and geographical boundaries; and an opportunity to cater to a wider market at a comparative miniscule cost.

With urban sprawl activities getting a fillip with metro allied Internet and media consumption, there are increasing opportunities of seeing an open economy and transaction values increasing in off shoot towns and townships. On a macro level this would mean direct access to big city markets (for consumers and suppliers alike) and should ensure a growth in income which further fuels the Internet cause.

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	I strongly advocate for e auctioning of all the commodities that are being traded manually. It is good to see that in Calcutta e-auctionfor Tea has begun. Perhaps, after spices board, this is the secondcommodity to come under e auction. I will be happy, if within a timeframe, all the commodities (stating from a to z) come under theumbrella of e-auction. Technology sound Companies like IBM, Microsoft, Infosys,TCS andother in the field must strongly encourage this system and also help in educatingthe masses how to get a grip on this mode of doing business. Besides, the supplierand clinet, our Government will stand to BENEFIT IN NUMEROUS WAYS if thismode of doing business is encouraged to the full for all the commodities: Someadvantages of e-auctioning of commodities are listed below:(1)saves significant negotiation time - turning weeks into hours(2) Provides transperency of suppliers as all suppliers have theoption to react to competitors(3) Enables greater services for client through driving down supplierprices(4) Creates more efficient markets(5) Relax geographic constraints(6) Consumers getting a good deal /saves money(7) Better customer relationships(8) Optimal price setting(9) Removing of expensive intermediaries(10) Increased revenues for sellers(11) Monopolistic lobbies enjoying the fruits as a middlemen willbe eliminated, which is need of the hour.
	\| 22 March 2008 Reply to Comment \| New Comment \| Report Abuse

	Good Information! But my experience says that products are usually priced higher than the market price. Although, a good deal can be found if you have a lot of patience and time on hand.
	\| 28 May 2007 Reply to Comment \| New Comment \| Report Abuse