Instead of upping the ante to win an auction, a new site, JellyFish.com, is offering reverse auctions (where the price keeps falling). Trendhunters note: the site says a group of jellyfish is called a "smack."
"Jellyfish.com has introduced a new reverse-auction called the Smack Shopping Deal of the Day that gives shoppers the chance to get the hottest online products at remarkable discounts or even for free." - JellyFish.com
Implications - Ever since the recent economic downturn, consumers are constantly looking for productive and beneficial ways to cut down on costs. Businesses that provide consumers with low cost products or services and the opportunity to actually save money will fare very well in today's recovering economy. Businesses that behave this way will be perceived as highly approachable in this time of economic uncertainty.
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The Longer You Wait, the Lower the Price
- By: Going Like SixtyNov 8, 2006 Updated: Jul 12 2011