Archive for Information

Top-selling items online last September

October 27, 2008 · Filed under Information · Tagged ,

We can’t ascertain whether the collapse of Freddie Mac and Fannie Mae will hurt online transactions but to give you a benchmark, you can check the list of our top selling items online below. In terms of value, the total of September online transactions was tight with the prevailing average.

1. Electronic load for cell phones and games – We are living in an electronic world and electronic load still rules in terms of volume and value.

2. Cellular phones – Cellular phones have always been in our Top Ten. We can attribute its saleability to the fact that when purchasing mobile phones, people tend to find as much information about them as possible. Online, potential buyers have immediate access to that information. In Auction.ph, buyers are given grounds for making better judgments with the availability of manufacturer info and actual user reviews and feedback.Secondly, with the movement of all that load, naturally, there has to be something to dispense it with. Finally, when it comes to cell phones, one size fits all. Unless you have really tiny hands.

3. Fragrances and cosmetics – Body sprays, make-up, night creams and other beauty enhancing products are attracting a significant portion of online buyers (and making them smell good.)

4. Computer accessories – With all the free downloads online, the need for storage devices continues to increase. With the increasing demand, these devices are becoming more and more affordable. Also in demand online are computer enhancements and peripherals like laptop skins and others.

5. Bags – Well, every woman needs a matching handbag.

6. Clothes, accessories and watches – Infant wear and men’s undergarments had some movement in September. Understandably, the general public still prefers trying the clothes on before buying them but there are category exemptions where convenience trumps fashionability. Because infants don’t mind wearing purple dinosaurs and men don’t care what they look like in sandos and briefs.Other items that sold online are fashion accessories like earrings and necklaces. In Auction.ph, people can find unique and exciting accessories that they won’t find in retail.

7. E Books – A brilliant example of an e-commerce item: easy to buy, easy to deliver and it is way cheaper than its hard-bound counterpart.

8. Flip flops and shoes – Flip Flops continue to lead in footwear sales. It’s cheap, comfortable and colorful. In a tropical country such as ours, when the pavement is not blistering hot, it’s flooded. So it’s wise to carry flip flops to save your shoes from harsh climate conditions.

9. Toys – Geeks will one day rule this planet and they are starting to mark their territory in the online space. Transformers and other toy collectibles are finding their niche in virtual retail. Hobbyists may be considered a limited market but the propensity for purchase is much higher. Without the costs of retail, selling to hobbyists online becomes financially viable.

10. Home furnishings and appliances – From bed sheets to ice cream makers, happy home makers are enjoying the convenience of shopping online without missing an episode of their favorite afternoon telenovela.

Online sales is on a trend towards diversity. Cellular phones and related items is still category king but cosmetics and fragrances and the fashion category are showing signs of an uprising. Spending behavior tends to spike as Christmas approaches and we’ll soon find out if the financial crisis will impact online transactions. But before daring to make authoritative assumptions, it would be best to know first who the hell Freddie Mac and Fannie Mae are.

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Auction.ph inaugurates new chairman and gets new capital

September 24, 2008 · Filed under Information · Tagged

Auction.ph CEO Mr. Hyuk Oh (left) with new Chairman Mr. Gilnam An (left)

Auction.ph CEO Mr. Hyuk Oh (left) with new Chairman Mr. Gilnam An (left)

Auction.ph, the foremost online shopping mall in the Philippines, appointed a new chairman in a ceremony held recently in Holiday Inn, Clarkfield, Pampanga. Mr. Gilnam An officially joined the Auction.ph corporate structure as Chairman of the Board of Directors. Several noteworthy guests that include the Mayor of Angeles City, Mr. Francis Nepomuceno, the Vice President of Clark Development Corporation, Mr. Frank Madlambayan together with top executives from various Korean companies attended the event to welcome and congratulate the new chairman. Congressman Mikey Arroyo also sent a special message of appreciation for Mr. An and Auction.ph. The highlight of the inauguration was the awarding of a plaque to the new chairman by Auction.ph President and CEO, Mr. Hyuk Oh.

After being appointed as the new chairman of Auction.ph, Mr. An pledged to support the growing e-commerce site by sharing his leadership abilities and business expertise. “From the economic trend in the 21st century, I sense the presage that the economic axis of the world is shifting towards the Asian Zone,” said Mr. An in his inaugural address. As a testament of his support and belief in the business and in the shifts in world economy, Mr. An invested USD10M in Auction.ph. It is considered as the largest investment made by an “angel” investor this year.

According to Auction.ph Vice-President and Chief Marketing Officer, the fresh funding shall be utilized for “research and development and marketing campaigns.” “With replenished funding, everyone can look forward to improved online service features and more exciting online promos,” adds Ms. Kim.

One of the company’s main goals is to introduce the Filipino household to the convenience of online shopping and eventually make it an integral part of their daily routine.

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E-Money Defined

July 30, 2008 · Filed under Information · Tagged , , , , , , ,

Based on the definition from thefreedictionary.com, e-money is one of several terms used to describe digital money. It is also known as electric cash, electronic currency, digital money, digital cash or digital currency.

Electronic money used on the Internet. In order to turn the Internet into a giant cybermall (online shopping center), companies have developed software that provides complete and secure order fulfillment over the Internet.

In Auction.ph, e-money can be described along the same lines, more or less.  E-money is one of the most convenient and helpful payment method for purchasing items from the website. In addition to other payment facilities that include Internet banking with Bancnet and Megalink, bills payment in RCBC and BPI, and mobile payments with Smart Money and GCash, e-money offers another safe alternative for conducting online transactions.

In our website, there are two (2) types of e-money.  The one basic difference between the two types also serves as the simplest description for both.

1.      E-Money 1 is e-money that can be converted into cash.

2.      E-Money 2 is the non-cash-convertible type.

E-Money 1 can be withdrawn by a member from any of our accredited banks. If a member decides to terminate a membership account, the remaining balance can be claimed just as easily.  Members can also transfer e-money to other accounts.  Submission of certain documents shall be required from the member requesting the e-money transfer to ensure the security of the procedure.  Transfers need to be documented properly to ensure the security of the procedure.

E-Money 2, on the contrary, cannot be converted or withdrawn as cash. And in cases of termination of membership, the remaining E-Money 2 in members’ accounts shall be forfeited. Auction.ph usually uses e-money 2 as an incentive or a prize for various events and promos implemented on the website.

Here’s a tip.  If you want your own e-money stash for your online shopping needs, I suggest you join the My Lucky Pick promo and get a chance to win at least Php4,000.00 weekly.

Click on the link to learn more about Auction.ph’s e-money.

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AdAuction revisited and revised

July 30, 2008 · Filed under Information · Tagged , ,

Auction.ph’s very own advertising program was introduced just a few months after the main site was launched in August 2006.  The mechanics of the web program was roughly based on Google’s Ad Sense.  The downloadable widgets were like harbingers of double happiness. On one end, it has Auction.ph sellers delighted because of all the free advertising they can get and on the other end, it had blog owners and web publishers raving about one more tool for revenue generation.

Rightly so, with intentions straight and true, the landscape of Ad Auction seemed paved with opportunity in the beginning.  Abe Olandres, one of the country’s most prominent blogger, even said that Auction.ph and Ad Auction gave “a glimpse of the future of e-commerce in the country.”  Despite positive predictions, the Ad Auction program did not really fly.  Other auxiliary programs were introduced in hopes of salvaging modest ROI from a familiar system that works and that should, in theory, perform even better because it was geo targeted.  Even with Ad Auction Buddy, a networking system that could help multiply earnings, Ad Auction failed to deliver.  And with the future of advertising now staring us in the face, Ad Auction went back to basics and got a much- needed facelift.

In retrospect, the basics of Ad Auction were all correct and the intention held the concept together.  With no other place to look, it was quite obvious that the weak link lurked somewhere in the mechanics.  Here is how the original program worked:

And here’s how it didn’t work:

In the original program, categories were randomly assigned.  Meaning, it was likely that blogs about models and swimsuits will randomly subscribe to widgets displaying food and furniture.  For almost everyone concerned, seller, blogger, and even visitor, that’s just whack.

With specific learnings from the previous outing, Auction.ph went back to the whiteboard and found a straightforward solution to a very simple problem. The new, improved Ad Auction program will leave widget selection to blog/website owner.  No one knows a site better than the owner.  And since owners are after stronger yields, it would be logical to select widgets that are appropriate.  For sellers on the other end, they can take comfort in the fact that their merchandise will be viewed by an appropriate audience.

And with that simple tweak in the mechanics, the new Ad Auction program should effectively uphold its original intention. There is also a plan to revise the incentive scheme which will be finalized soon.

The new AdAuction is currently undergoing reprogramming, incorporating the new mechanics that should be beneficial for bloggers.  After all, you might notice that we are blogging now and we’re starting to get a grasp on what bloggers are after. ;)  (That’s what we’d like to think.)

Attention Bloggers: By this time, you should have received an invite for Auction B-Day happening on August 14.  After reading this post, tell us how we can further improve the Ad Auction program. We will take all your comments into consideration and hopefully, we can use them to serve you better.

And! All your comments will be counted as one raffle entry! We will draw lots on August 14 and announce the winning post during the party.  Send us your comments and we’ll see you on the 14th! Good luck!

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Know escrow and practice safe shopping online

July 14, 2008 · Filed under Information · Tagged , , , ,

Ever heard of the term Escrow? If not, I hope this post helps you in understanding the word.

From Wikipedia ,

Escrow is a legal arrangement in which an asset (such as cash, real property or other tangible assets) is deposited into safekeeping (e.g. a bank account) under the trust of a neutral third party (escrow agent) pending satisfaction of contractual contingency or condition. Once the condition has been met, the escrow agent will deliver the asset to the party prescribed by the contract.

For Internet Escrow,

Wikipedia defines that Escrow services are intended to ensure security by acting as a middle-man in transactions where the two parties do not trust each other. Rather than sending money or goods directly to the other party (which is insecure, as one or other party must send their item first, at the risk that the other party may not then send theirs), party #1 sends their items (X, usually money) to the escrow service, which holds them until the party #1 receives item Y, the service sends X on to party #2. If either party fails to deliver their part of the deal, X will be held at the escrow service and eventually returned to them.

If you are still hesitant about buying and selling online, worry no more because Auction.ph comes equipped with its very own Escrow System. This is a unique and patented system that essentially protects all buying and selling transactions against fraud.

The system serves as an intermediary and supports transactions between buyers and sellers upon closing of an auction or any other type of transaction method. One of the main objectives is to increase the level of safety and convenience of transactions for all Auction.ph members.

Here’s how it works:

1.      Buyer and seller agree to use the Auction.ph escrow service

To avail of the escrow service, one has to be a registered member. Upon registration, prospective members will be asked to conform to the Escrow Agreement whereby the terms of the service are stipulated. After a successful transaction is concluded, registered members automatically avail of the free service.

2.      Buyer deposits payment to the escrow service

After a successful transaction (auction, shopping, cooperative buying or bargains), buyer is requested to pay the full amount of the item/s by depositing it to the escrow system. The buyer may choose any of the following payment methods: internet banking, credit card (available soon)), E-money, bills payment, G Cash & Smart money).

When the payment is received, it will be verified and secured by Auction.ph. After verification, Auction.ph will advise the seller (through e-mail) that payment has been made and he/she is expected to ship the item/s to the buyer.

The buyer has seven (7) days from the end of the buying process to settle the payment for the item/s.  If after seven (7) days and payment has not been verified, the transaction is considered canceled.

Since the launch of the website in 2006, Auction.ph has zero reports on fraud.  It may take some time before retail spending shifts online, but the shift is inevitable, notwithstanding.  When that time comes, shift to the one that has an effective system in place.

But why wait?  Experience the joy of protected online shopping now.  That is, if you’re already 18.

Learn more about the escrow system and experience secure online shopping on www.auction.ph.

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Digicam page set for launch

July 14, 2008 · Filed under Information · Tagged , , , , , , ,

Auction.ph will soon unveil a brand new digicam page-and it promises to be an absolute haven for trigger-happy photographers and camera enthusiasts. The unique specialized page is sure to carve its own niche in the country’s online market scene today.

The digicam page will boast a comprehensive inventory of digicams available in the country. The page will include renowned brands such as Canon, Nikon, Sony, Olympus, Kodak and more. Specifications, key features, reviews, you name it, the page will have everything you need to know about digital cameras.

As one of the more saleable and widely viewed category on the website, Auction.ph will give digicam sellers a platform to showcase their items and a chance to create an impact on the online market scene.

And! The page promises to be interactive! The page will include a function for uploading favorite photos. It will also have a forum where members can participate in discussions about, of course, digital cameras.

So, stay logged on to Auction.ph and be sure to check out the latest in digital cameras on the digicam page coming very soon.

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Auction.ph launches Auction.ph Store

July 1, 2008 · Filed under Information · Tagged , , ,

By: Richard Fadriquela (Merchandiser)

Calling all SME’s and individuals!!!! Dreaming of putting up your own store? But are you hesitant because of the sky rocketing costs that you need to deal with? Why don’t you try it the other way around?

Well, here’s an answer to your retail dreams…

Auction.ph launches its My Store program which aims to provide a special page for online sellers, SME’s, members and non-members alike giving them a chance to showcase their items for sale and thereby increasing their chances of turning a profit. In this special page, sellers can customize their item listings with their own design, adjusting theme and color to give their online store a personal touch. They can also feature their promo

tional items and highlight other marketing gimmicks through their own virtual stores.

Here are some of the benefits that you can get from using Auction.ph My Store:

  1. You can sell your items anywhere and anytime, well beyond mall operating hours
  2. You can reach a distant market without the need to put up another branch
  3. No need to hire staff to sell your items
  4. Best of all, it’s FREE.

So guys, what are you waiting for? Take advantage of this great deal from Auction.ph and start making your own STORE and expand your market and your profit.

For more info, just click on this link:  http://stores.auction.ph/


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