A business almost always focuses on making things easier and sometimes entails a solution for a problem or necessity people do not know they have. When releasing a new product firms try to be innovative, different and sometimes exclusive… In this sense, brands such as Michael Kors or Apple act like a luxury since they sell expensive but great-quality products to public. When I learned about auctions sites online, I was thrilled by this idea of restructuring the market.
Who would not invest little money knowing that there are chances to get a high quality product? Sites like eBid, ePier and QuiBids satisfy customers by this feature and; in the other hand, they earn the thousands bids people invest.
An interesting way of doing business for sure…
After being quite impressed by this business idea I asked myself whether a lot of people lose money when bidding… Apparently for some websites like QuiBids, offering unsuccessful consumers the opportunity to buy the item at the retail price is enough comfort. However, the big percentage of losers that is never shared in companies such as QuiBids brought lawsuits due to this keeping of information.
I find these retailers to be an innovative way of doing business. However, I strongly believe that these companies have the responsibility to constantly go over their ethical values to keep the good atmosphere of entertainment.
Based on: http://forbesnetwealthbuilder.com/quibids-review-a-z-of-the-best-penny-auction-website/