NBC4 Article On AuctionHub.com
Every year, more than 100 million Americans purchase goods from the online retail marketplace.
According to the April 2017 IBISWorld market research report, E-Commerce & Online Auctions in the US, the E-Commerce and Online Auctions Industry, which comprises companies that sell merchandise online, has surged over the past decade. Encouraged by the ease of ordering at home and the ability to quickly compare prices and product reviews among retailers, a growing number of households are choosing to shop online instead of purchasing products at brick and mortar locations or via mail-order catalogs. Over the five years to 2017, industry revenue has increased at an annualized rate of 13.3% to $393.9 billion, including projected growth of 11.2% in 2017.
So what does this mean to us the consumer? This gives us a great number of options as the industry is made up of much more than Amazon and EBay. Actually, IBISWorld reports that small companies make up over 75 percent of the market and many will facilitates the auction from start to finish by handling every aspect from staging, listing, advertising, customer relations, shipping, collection, payment, and more.
Items like this glass door merchandising refrigerator listed on the AuctionHub site which were normally sought after for commercial use are showing up in man caves due to the ability to find them at auctions at prices below the $3107.05 that the site list as original new price.
One such niche and quality product auction company AuctionHub does exactly that. These types of niche premium auction companies help you earn more money from your assets and is a great way to find deals on items for your home or business. AuctionHub holds Estate Auctions, Supermarket Auctions, Tanning Salon Auctions, Memorabilia Auctions, Pizza Shop Auctions, College and University Auctions, and much more. They currently have a Restaurant Equipment Auctions which began on October 17th and lasts until October 19th, 2017.
The use of digital platforms combined with the power of social media has gained momentum among not just the millennials but also Gen X who are looking to go beyond the scope of a physical site to bag a good deal on shopping. This growth in trend can be correlated to the increased transparency and access that comes with online auctions, while providing more opportunities and a variety of products. Rare niche products or products that are no longer being produced have also found homes online.
Changes in lifestyle, increased disposable income and ease of online shopping technology have brought forth the popularity of online auctions, where you can haggle for a price drop without dealing with an actual person. Thus rapidly improving income and greater internet access benefits the auction industry
Digital platforms have clearly changed not just way we consume knowledge but has certainly influenced our patterns and behaviors, and how we shop as well as sell our personal merchandise is a true reflection of that change.