The Massive Explosion of Penny Auctions Online
June 27th, 2010Penny auctions are relatively new to the world; however, they are declining almost as quickly as they have gained popularity. This has proven to be mind boggling to the traditional business guru; however, this article will clearly show the reasons why this new method of shopping has such “rollercoaster” chart movements and how one company (WinnersMountain.com) is looking to capitalize on the volatility of this market.
Starting less than five years ago, mega companies such as Swoopo, Haggle, and Beezid have created revolutionary empires in the “shopping world.” They have mixed excitement with the natural human urge to get great deals and pay the least amount possible for brand new items. This unique combo has created a new system yet to be seen in the twenty-first century.
These sites attract millions of “shoppers” every month. Their users log in, pay for bids, and try to win big items for insane deals. We aren’t talking about 25-50% off retail price, we are talking 75-95% off!
Although it seems to be a hit, studies show it’s a dying market. The reason is because the odds of winning are ridiculous. Each auction only allows for one winner. It doesn’t matter if ten people are bidding on an Apple Ipad, or one hundred. There will only be one winner. This puts the odds of winning at 1/10 or 1/100. With those odds, it’s almost easier to get hit by a car and win a million dollars in a lawsuit! With Penny Auction sites, “losers” literally lose all of the money that they spent on bids.
Because of the “gambling” like atmosphere, shoppers are naturally drawn to these auction sites. But with the horrible odds in place, they are quickly turned off to auctions sites once they lose their money.
A new site called WinnersMountain.com is looking to change that by offering the world’s first free penny auction site. No longer will shoppers have to feel the pain of losing their money. Why? Because they will no longer have to fork over their money to enjoy the excitement that “entertainment shopping” has to offer.
WinnersMountain.com has created a system in which users can still shop and bid on fantastic prizes for free. With a hurting economy, it is expected that this new system of free penny auctions will take off.
WinnersMountain.com has replaced the dreaded system of having to pay for bids with a new friendly system of getting free bids in the following four free ways.
First, users get 100 free bids just for registering. Secondly, every week WinnersMountain.com reloads their users with 25 more bids for free. Thirdly, for each person that a user refers, they get 10 more free bids. Lastly, WinnersMountain.com offers weekly contest that allows users to win more bids.
“Losers” will no longer be out money when playing at Winners Mountain. It’s a free service that Winners Mountain hopes to bless others with by giving away free prizes to its winners.
