The internet has now turned in to a global marketplace in which
anyone, anywhere, can buy or sell practically anything. The many
Companies have developed a web-based marketplace in which a
community of buyers and sellers are brought together to browse,
buy and sell various items. Through the PayPal service, on line
auction companies enables any business or consumer with e-mail
to send and receive online payments securely, conveniently and
cost-effectively. The Company's marketplaces exist as an online
trading platform that enables a global community of buyers and
sellers to interact and trade with one another.
The
auction
sites are a fully automated, topically arranged, intuitive
and easy-to-use online service that are usually available 24
hours a day, seven days a week, enabling sellers to list items
for sale in either auction or fixed-price formats, buyers to bid
for and/or purchase items of interest and all users, once
subscribed and a "site member" are able to browse through listed
items from any place in the world at any time. Given this
innovative business concept, anyone and everyone is able to both
place ads and to purchase from anyone anywhere in the world.
However, certain challenges still present themselves to the
company's in both the near and distant future. Demographic
features that show concern include population size, age,
geographic distribution, ethnic mix, as well as income
distribution.
Despite the Internet being available to users around the world,
most companies success has been limited to the U.S. region and
targeted mainly towards the middle to upper classes. Logically,
those with Internet access and items worth selling have a direct
correlation with individuals with a computer and money to spend.
On line auction customers for the most part do not have a
particular ethnic mix, which is evident in its ability to allow
access to anyone with a computer, regardless of the ethnicity,
race, or religion.
There are other problems for companies selling on line, such as
the internet sales being in the forefront of counterfeit,
illegal and questionable issues regarding online listings. While
on-line publishers are responsible for the content of their
sites as an on-line venue, some larger sellers were not
according to the Digital Millennium Copyright Act (DMCA) of
1998. People were, however, selling illegal items such as human
kidneys, marijuana, counterfeit software, controversial items
such as Nazi memorabilia and pornographic material. In addition,
certain companies have faced several lawsuits questioning the
auction business model where people claimed that the sellers
(the company) should take responsibility for the authenticity of
items sold on the site. Integrated up-to-date technology as well
as partnering with other firms plays a major role in the
auctions business strategy.
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