Today, flaunting with latest smart phones is a fashion statement for youngsters and even people of all ages, thus each individual desire to have latest smart phone or any other gadget in their pocket. But sad thing about this, it is very difficult for each person to buy expensive mobile phones.
There is a saying in the retail world that customer is the king, and retailer runs his business according to the customer demand. In other words the products that customer demands, retailers of business man keeps or sells.
But this time that case is quite different because customers do not have money to pay for products, so how can retailer may keep the product of his/her choice.
Though the economics says when there is huge demand then products can be sold at low prices because for the same products there would be huge number of customers.
Thus some big retailers applied this concept because it helps companies to promote their products. Somehow this concept did not last for long time.
At the same time online market was growing up swiftly, and the online shopping sites like Amazon and Ali Baba have established themselves.
So few people realized this, and dawn of online auction sites. However, the auction is not a new thing for India or any other part of the world, the only difference between offline and online auction is that one was involuntarily and other voluntarily.
About 15 years ago, both online auction sites and mobile phone market were budding, and they helped each other in grow up and build their space.
Through the auction sites mobile phone companies get promotions in return render mobile phone to these sites for free.
Auction sites earn profit through traffic, so more phones on auction leads to more bidders; more bidders’ gets traffic to site that is what they wanted.
Initially, Mobile Phone Auction assisted these sites popular, but with the time, these sites have expanded their business as they started doing auction for other branded range such as home appliances, branded clothes and electronic items.
Now the craze for auction amongst youth is on the rise across the world. Or what better than this, that without spending a single penny on travelling, you win the latest and preferred products at minimal rates.
Other than that the process of bidding on these sites is not so tiresome, you register yourself and make a bid and win your best products.