Metropolis Transactive Holdings (Pty) Ltd (Metropolis*), the African leader in the development of industry focused online business-to-business communities, has announced the launch of
www.auctionsafrica.com
, South Africa`s first business-to-business online auctions initiative. This initiative was borne out of a strategic alliance with Aucor Active, a leading local online auction site.
Through the creation of auctionsafrica.com, Metropolis* is able to extend it`s e-commerce offering by enabling buyers and sellers within its communities to transact online, at prices negotiated within an auction forum.
Market research has shown that excess inventory in the targeted industries is valued between 10% and 27% of their potential output, more than half of this is due to a lack of demand.
Auctionsafrica.com will cater to industries already encompassed in the Metropolis* portfolio of B2B communities, including Safety, Health and Environment, chemical, laboratory, medical, mining, test and measurement, information technology, the telecommunications industries and office supplies.
"The inherent limitations of the South African market creates the opportunity for Metropolis*, in partnership with Aucor, to pioneer alternative sales channels that enable sellers in these markets to reach a larger target audience, "comments Jason Xenopoulos, CEO of Metropolis*.
Online auctions provide an efficient marketplace where buyers and sellers can trade excess inventory and second hand equipment. This mechanism allows them to liquidate their excess stock and increase their cash flow. Online auctions also provide an effective means of sourcing hard-to-find items at discounted prices.
Auctionsafrica.com manager, Edu de Jager, comments that "online auctions overcome the constraints that traditional auctions face, as they are able to run over a longer period of time and can reach a global audience."
Buyers and sellers can browse the auctions free of charge and place bids on items offered. Sellers can advertise on the community site and a transaction fee will only be charged once the items have been sold. Features include transaction services, fulfilment, cross-industry searches and auction tracking. Sellers have the option of placing a reserve price on their item.
In the future, Metropolis* foresees sellers and manufacturers using B2B online auction as a forum to test pricing models and to promote new products.
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Metropolis*
Metropolis* (www.metropolis.co.za) is a transactive media group focused on combining content, community and e-commerce technology in order to innovate and grow a network of online communities in both the business-to-business (B2B) and business-to-consumer (B2C) environments.
Thus far, Metropolis* has launched eight Africa-focused B2B communities in industries ranging from Safety, Health and Environment, chemical, laboratory, medical, mining, test and measurement, information technology and communication industries. Each of these communities is the definitive online resource for product, communication and information within its particular industry.
Metropolis*`s growing network of online trading communities, provide faster, more cost effective e-business solutions for companies in countries across Africa. Essentially, these trading communities aggregate buyers and sellers of similar needs and offerings and allows them to transact over the Internet. These communities enable companies to do business with existing clients faster and more efficiently, as well as opening them up to new clients nationally and internationally.
Aucor
AucorActive is a virtual auction house. AucorActive offer the only fully e-commerce enabled and logistics enabled B2B, C2C, and B2C auctions in Southern Africa. With a 33 year base in the real-world auction industry, Aucor have been virtual with AucorActive for almost one year. (www.aucor.co.za)