What Yith Auctions does
The easiest way to implement an auction system similar to eBay on your store.
How I can benefit from it:
- You will benefit from an effective model business catching the eye of those customers who usually take part in auctions to get products at advantageous prices;
- You will sell unique and refined products without diminishing their market value by setting a minimum start price to increase the profit margin;
- You will take advantage of the scarcity and competition principles to offer an ad hoc product, such as a custom or out-of-stock item, that your customers will perceive as unmissable.
Do you know what an online auction is?
I bet you do, and you probably already considered selling products on the eBay network, the number one name in the field who built an empire on this method of sales and got millions of people used to buying online for their best offers, taking part in a sort of race to the purchase.
Users who are interested in auctions are moved by the chance to get items at low prices and motivated to make a bid which in most cases turns into an immediate raise as soon as they are outbid.
Auctions are simple: anybody can place a bid for a specific product and if no other bid exceeds the previous one, then they win the item.
This allows buyers to grab products for their best price and allows vendors to generate a profit sometimes bigger than anticipated.
Using our YITH WooCommerce Auction plugin you will not only be able to make auctions for your products, but thanks to the integration of our YITH WooCommerce Multi Vendor you will have the chance to create a real portal for online auctions, allowing all of your vendors to create auctions of their own and letting you earn a share on each one of their sales.
A truly performing sales system in which buyers will be able to:
- Set up automatic raises
- Buy items right away using the “Buy now” function
- Look into every single auctions, including old ones
- Look into the list of people interested in each auction
And much more!