Wednesday, October 19, 2011
The online penny auction site BidRivals is shifting their business away from the United States and creating a larger focus on the European and Australian markets. BidRivals will still have auctions for the US but will have much more for Europe and Australia. The penny auction site also will be ending their affiliate program with 3rd party sites in the US. Their affiliate program ends on October 24th 2011. BidRival's core markets are in Europe and Australia. Only a small percentage of their customers are from the US. By focusing their efforts on their core markets they hope to strengthen their market share in those countries. BidRivals will still remain one of the few global / international penny auction sites. The movement away from the US market just goes to show how competitive the penny auction industry right now. Hundreds and hundreds of penny auction sites have popped up in the last 2 years and 99% of them have gone out of business. Even the larger sites like Swoopo, BidFire, Bidash and BidRodeo are out of business. Sites there are still open (with the exception of Quibids) do still struggle. For example, Pointnbid's auctions usually always end at <$0.25. The owner is most likely losing money every day. The economic recession has drawn people to find better deals, thus turning to the penny auction market. However, if customers are not winning enough, they usually do not return.