B-Stock is led by veterans in the secondary market and reverse logistics space with decades worth of experience on how to run successful online auctions. Our marketplace network is constantly analyzed by account managers and data scientists who have developed auction strategies currently being used by the world’s top retailers. Success metrics include:
When an auction has an increase in registrations, bidders, and actual bids, this promotes a competitive environment where buyers become emotionally engaged in the bidding process and will naturally want to continually keep bidding “just $20 more” to win that coveted lot.
A very successful auction strategy includes using a retailer’s brand to help promote auctions and bring in buyers. The B-Stock Network data shows that buyers tend to buy more from name brands they trust, as compared to a name they’ve never seen before. By branding a seller’s private storefront with their instantly recognizable brand name and style, it provides buyers valuable knowledge of who they are buying from. A well-branded site provides additional validation of the quality of the lots being offered.
We have seen increases in bid activity and recovery rates when retailers move from a generic site to a fully branded storefront. For one large ecommerce retailer, they met their recovery rate goals when they leveraged their brand equity. Within a month of branding their marketplace, including using their company name in their storefront’s URL, the ecommerce site experienced a 60% jump in bids after 15 new buyers immediately began participating in auctions. The recovery rate itself increased by 51% after two months of branding the site.
Check out some of our other client success stories:
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