Marlet Badeo

Tuesday, August 16, 2011

Online Auction: A Crowded Competition But Fewer Audience

While the Philippines continues to have new start-ups in the online auction industry, the competition has become less and less, not because of the dominance of a certain site but due to fewer audiences- few participants, bidders and auctioneers.

Currently, the Philippines has about 10 sites competing for a few customers. The list is as follows:
1. Sulit.com
2. eBay Philippines
3. Bidshot
4. AyosDito
5. Pisobid
6. Buy & Sell
7. Auction.ph
8. OLX
9. Foreclosure Philippines
10. Top Gear

The last catering only to the property and gadgets respectively. Sulit has overtaken eBay Philippines in the race while Bidshot is catching up to make the triumvirate. The popularity of online auction business model is having competition in the form of group buying- commonly called daily deals in layman's term. The Philippines has 54 deal sites as of last count. More sites are still coming.