With its latest consumer offering iWant, M-Web believes it has turned Internet auctions upside down. It touts iWant as a "forum where consumers enjoy control by getting sellers to bid for their business".
Normally when consumers buy something at an online auction, they bid against other buyers for the item they want. Using iWant, consumers place a notice for what they want to buy and how much they are willing to spend. Sellers then compete for the business and bid the price down to win the sale.
"The boon for buyers is that they no longer have to spend endless hours scouring the Net for what they want - sellers come to them," says Eddie van Rensburg, GM of M-Web Business Solutions. "The model drives competition for the consumer`s business, resulting in better prices and hopefully better services with very little effort on the part of the consumer," he says.
"iWant essentially puts the control of the sale back in the consumer`s hands - but everyone wins. Consumers get the product they want at the price they are willing to pay and there is no obligation to buy until the sale is concluded. Sellers get to sell to a targeted audience who are committed to a transaction," says Van Rensburg.
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