MACUNGIE, Pa., June 7, 2016 /PRNewswire/ -- iBuySell is a new kind of real-time peer-peer mobile shopping marketplace where you can discover thousands of items from fashion to tech gadgets directly, today officially announced the company and its first platform, the free iBuySell iPhone and Android app, globally to app stores in over 130 countries. iBuySell presents a new exciting and engaging social experience, the live-sale!
The platform is a radical departure from the traditional shopping marketplaces in how it runs the sales. The app spotlights new products in real-time, as shoppers discover new items under several categories including fashion, clothing, jewelry, shoes, home, and tech. Instead of hosting an auction that takes seven days or more, at iBuySell, each sale lasts at the most - 90 secs!
Sellers showcase discounted products in their online storefront called closets and buyers can choose to either browse and tag their favorite items to get notified once the items go live or purchase the products right away.
At iBuySell, every few moments a new product gets displayed on live-sale. When a product goes live, it's decision time! Prices fall by the second as buyers hit the freeze button to lock in the price and claim the item. It's a split-second decision, "should I wait for the prices to fall further( and lose it to someone else) or should I freeze it now (and wonder if the price would have dropped further)"! This brand new approach to online shopping results in a rush and thrilling experience for all everyone involved.
iBuySell has a significant edge over other shopping marketplaces. Shoppers sign up for free and can earn rewards for referring their friends via social media, emails, and messaging services. Their friends earn rewards too! Buyers discover new items and brand new deals on their favorite Coach handbag, fashion jewelry or the Michael Kors sunglass that appear every few seconds. To many, shopping on iBuySell feels like a fun competition. It's a split second decision between waiting for a lower price (and risk losing it to another shopper) and locking in the price now (and wonder if the price would have gone lower)! The consumer now feels empowered to choose their price, feel the rush and excitement and the time-frames are much more convenient than following an auction for days.
The platform is vendor friendly and helps sellers move inventory quickly, increase conversion, improve brand awareness and drive sales. iBuySell hosts products from small entrepreneurs, consignment sellers, retailers, professional vendors, and artisans. Many are existing eBay, Etsy, Shopify and Amazon sellers who wish to drive sales. Listing of items is free and sellers have a choice of paying a very low transaction fee (5-15%) or a monthly fee starting at only $29. Sellers can set secret minimum acceptable price on every item that ensures profit, can choose to ship directly from the app, and can advertise their existing online e-commerce stores in their profile to drive traffic.
Sellers move items quickly as each sale lasts only about a minute. Shoppers get 15 minutes to pay for their items after they have hit the freeze button and within 20 minutes vendors know which items have sold and at what price. Vendors can not only create their discount offers and share on social media but can also choose to share the products listed in their closet on Facebook, Twitter, Pinterest, etc. attracting more buyers.
"Most online platforms are search based catalogs, the user experience is the same almost everywhere, and for the small entrepreneur it is an expensive and time-consuming effort to drive sales and improve conversion," says iBuySell co-founder, Kaustuva Mukherjee. "So, we thought why not combine bargain hunting with a little competition, speed, and suspense, to make it fun, unpredictable and rewarding experience?"
Kaustuva Mukherjee, an IT professional, and his wife Suchi co-founded iBuySell after realizing that there was a need for a different kind of marketplace while investigating various options to establish their retail venture. The app was internally developed in six months and is now available publicly in over 130 countries.
iBuySell is a peer-peer marketplace platform built around real-time product discovery and immediate live sales. iBuySell is a platform where anyone can buy and sell. Instead of waiting for seven days in auctions, brands can now drive sales quickly, while directing traffic to their existing online e-commerce stores.
In traditional auction sales, prices start at a small reserve price, and the highest bidder wins an item. At iBuySell its the opposite! Prices keep falling from an already discounted preset price till the first person locks it. There are no bidding; buyers wait for prices to drop and then hit the "freeze" button to be the first to purchase the product at the cost it was locked. The product is then considered sold and no longer available for sale.
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