QuiBids is an online auction website that allows you to bid on products. People have been buying items for a largely discounted price, such as a Michael Kors bags for $14.96 or and ipad for $54.03! How QuiBid works is that it charges every user $0.60 for every bid that is placed. All bidders need to pay $0.60 per bid, regardless of if they win the bid or not. Bidding takes place for 5 minutes only. Level of intensity is high. Excitement is there. Winning your prized possession is almost like winning a gamble. And if you win, you’ll likely be telling all your friends about the extraordinary deal you got on your new item. That’s a plus for QuiBids.
If you lose, consumers on QuiBid might have that remorse. It’s almost like when you lose your first bet at the casino and you tell yourself, “that’s the last time I am ever going to gamble!” QuiBid has a strategy to tackle this. If you lose your bet, you have the option to purchase the item for the listed price for minus the money you spent on betting in the auction! This puts the consumers at no-loss. After all, the best strategies are the ones that put both parties at a win-win situation.
Since this sounds so great… why haven’t I heard about QuiBids? Speaking from my personal opinion, I would not purchase from QuiBids for a few reasons:
I am not an impulsive shopper. I like to shop online when I know exactly what I want to purchase. QuiBids is not exactly a platform for that, as you can only find specific items that they happen to have in stock on there. Groupon, Social Shopper etc. never worked well for me, as these are platforms for impulsive shoppers to take advantage of time-sensitive deals! Great deals but not ideal for non-impulsive shoppers like myself.
I am a lazy online shopper. Judging strictly by the brand image of QuiBids, it is not convincingly reliable. I read a lot of articles and people search on google “Is QuiBids a scam?” Even if it isn’t, it’s a red flag for me because I am a lazy consumer who doesn’t want to research more into detail whether a company’s e-commerce is reliable to not. I would rather pay (a lot) more and purchase my item from the brand’s website.
One of the articles that I read online indicated that retail stores were unhappy with QuiBid. However, QuiBid seems fairly new still. It will be interesting to see how the company grows and to see other companies with this business proposition emerge!




