The Business Benefits of Market Creation
Can you collaborate with third parties to create a supply of goods in such as way as has never been done before? Can you find sellers that were previously out of your reach? You may have the chance to create a market for that industry…
- Connect with third parties to provide a supply of lots to new markets.
- Get early bids placed before the auction begins – through wise marketing. This will create an early market before the real bidding begins, whilst also giving online bidders an idea of the interest in a particular item, even if bidding has not yet reached reserve.
- Gain quick and easy access to new markets online. By working with vertical markets and suppliers you can introduce new people to your auctions.
- Test-market a product, or some aspect of an online business operations or sales process. You may want to test the market to see how demand is. This can be easily done as a commission-on-sale via online auction.
- Online sales are a great way to provide access to rare or niche items. Items such as machinery tools may become available for sale only once in a while – and when they do, they sell at a premium. Valuable sales can be made by connecting with a wide geographic market for these items.
- Provide a more efficient means of selling or brokering high value niche items.
- Create new and innovative ways in which consumer items can be sold. US airline company, Jet Blue, have recently decided to sell air tickets by online auction.