What is BidorBuy? BidorBuy Review, Features

BidorBuy is an important online shopping mall in South Africa. It is an English e-commerce website based on the Internet auction and online market model, allowing individuals and businesses to trade with each other.

About BidorBuy

·BidorBuy was first launched in August 1999. BidorBuy is hailed as the "South African Taobao" by Chinese e-commerce sellers.

·BidorBuy follows the business model of eBay. It is an online auction site and marketplace where users, buyers and sellers transact with each other. Anyone who is 18 years of age or older can transact on the site as long as they abide by the site's terms and conditions.

Trading Items

The trading of collectibles, mainly in the form of auctions, is the foundation on which BidorBuy was built, especially South African coins, stamps, antiques, etc., which remain very popular. BidorBuy has now expanded to other categories, including all products that can be legally traded. In 2008, BidorBuy focused on developing its automotive section, attracting many car dealers to the site, making it one of the largest online car shop windows in South Africa. The property section of the site was expanded in late 2008 when the transaction information provided by several online real estate agencies was incorporated into BidorBuy. BidorBuy has purposefully worked to move itself away from being a website that only provides second-hand knickknacks and instead develop a whole new mass consumer goods trade. To this end, BidorBuy enables sellers with their own e-commerce websites to integrate their shopping carts with BidorBuy and largely automate the onboarding process. As of January 2012, BidorBuy has 32 main categories, each with several subcategories, with property subcategories sorted by city and even suburbs, bringing the total number of categories and subcategories to over 3,000.

Changes in trading patterns

1. Auctions: Initially, BidorBuy only conducted online auctions.

2. Shopping: In 2001, BidorBuy launched the "Buy Nows" model to sell goods at a fixed price.

3. Classified Ads: In 2005, BidorBuy launched a classified ad section where sellers can display items that may not be easy to sell on the Internet, such as used cars, real estate, and services.

4. Bid to buy nows and auctions: In May 2015, BidorBuy launched the Make a Offer feature, first Buy Nows and later Auctions, which allows buyers and sellers to negotiate prices.

5. Auction Buy Now: In November 2015, BidorBuy offered sellers the option to include a “Buy Now” price in their auction listings.

Payment Methods

BobPay-EFT (Internet Funds Transfer) was developed by BidorBuy to enable almost instant internet payments with the four largest banks in South Africa - Absa, FNB, Nedbank and Standard Bank (in South Africa, internet banking is often delayed by two or three days). BobPay Credit Card allows verified BidorBuy sellers who do not have an internet credit card merchant account to accept credit card payments from customers. BidorBuy also offers other payment methods including credit shopping and PayPal.

cost

As a C2C platform, BidorBuy mainly makes profits by providing platform services, charging advertising fees and sales commissions.

1. BidorBuy's sales commission is mainly divided into two parts: Success Fee, as the name implies, is the fee paid to BidorBuy calculated based on the sales price and the different commission ratios for each category; Final Order Value Fee refers to the extra fees that BidorBuy will also charge 6.61% commission when customers pay additional shipping or insurance fees. Since the shopping model of BidorBuy is to place an order first and then pay, there are usually a large number of orders that are placed but not paid to complete the final order. As long as an order is placed (not paid), BidorBuy will automatically charge a commission.

2. Items listed in the classifieds column do not need to pay a success fee. Instead, sellers who list items in classifieds need to pay a fixed listing fee.

3. Items listed in any transaction format (Auction, Buy It Now or Classifieds) can be advertised on the home page and other parts of the site in rotation for a specific fixed fee.

Entrepreneurship promotion activities

BidorBuy has worked with institutions of higher learning on several occasions to promote entrepreneurship among young South Africans. Bidorbuy representatives provide free introductory workshops to students and guide them through the entire online sales cycle from sourcing goods to completing transactions. In 2010, 60 students from the Raymond Ackerman School of Entrepreneurship Development at the University of Johannesburg and 50 students from the University of Cape Town Investment Institute participated in the course, called the BidorBuy Auction Challenge.

Requirements for becoming a certified user

1. Possess a valid South African identity document;

2. Complete the BidorBuy verification user registration form;

3. Fill out the claim form and print, fax or scan it, then send it to BidorBuy via email.

honor

· Public’s Favorite E-Commerce Website and Best E-Commerce Service Website in the 2011 JumpShopping South African E-Commerce Awards.

· Winner of the 2011 Clickatell Personalized Prioritized Messaging (PPM) Awards in the Enterprise category.

Best E-commerce Service Website at the 2012 South African E-commerce Awards.

Best Customer Service Website at the 2013 South African E-Commerce Awards.

· Best App in Africa 2013 - BidorBuy Android App.

Best E-commerce Service Platform in the 2014 South African E-commerce Awards.

Best E-commerce Service Platform at the 2015 South African E-commerce Awards.

Best Online Marketplace Platform at the 2016 South African E-Commerce Awards.

Best Online Marketplace Platform at the 2017 South African E-Commerce Awards.

Development History

-BidorBuy was first launched in August 1999 by Andy Higgins during the dot-com boom in South Africa.

-In January 2000, BidorBuy was officially launched. Under the leadership of General Manager Nitzan Tal, BidorBuy launched a large-scale marketing campaign.

- From February to April 2000, Nitzan Tal established websites in India and Australia.

-In 2001, after the dot-com bubble burst, the Australian site closed and the Indian site merged with former arch-rival Baazee.

-In October 2001, Higgins continued to run the South African operation.

- In 2005, as South African businesses and private users gained access to broadband, always-on Internet access, things began to change. BidorBuy quickly became the largest online marketplace of its kind in South Africa and Africa.

-In 2010, BidorBuy invested in PayFast.co.za, a local online payment solutions company.

-In May 2014, BidorBuy invested in the e-commerce company uAfrica.com.

-In March 2016, Bidorbuy announced that it would accept Bitcoin payments.