“To press or not to press?”,that is the DROPIT question.
Welcome to the world of shopping, gaming style. This is the ultimate shopping experience aimed at gamblers or people with nerves of steel. In other words, the founders of DROPIT have found a psychological way to make you buy stuff without actually needing or wanting it. All they care about is making you part with your money in a fun and nail-biting way.
DROPIT is a reverse action auction developed in New Zealand by the Mount Maunganui based software company Websoft (how original…) and is an 11-person operation. The concept of this shopping platform is to present buyers with items that can be bought at their base price and downwards.
DROPIT CEO Peter Howell explains that the idea is to turn shopping into a game, and in his words “From the outset, the focus was always to create a great gaming experience for shoppers.”
What you get is a premium product delivery site, where anything priced $500 and over is presented a few days or weeks (dependent on the products interest value), and the price ceiling is its highest value.
At present each item has a seven-day lifespan, this means that an item is uploaded to the site by a supplier, and sets the starting price. The auction itself takes exactly 60 seconds, yes, you read correctly, one minute. Within that one-minute time frame, bidders compete by not pressing the button. The longer the timer ticks, the cheaper the product becomes and the more you want to be the first to get it. The winner is decided by the first person to click on the bid button.
Essentially, this means that DROPIT is for those buyers that want a specific item, were willing to pay the retail price, but now have a chance to buy it at less online. Much less if you are willing to gamble the time, but then, you could lose if you don’t press first.
OMG, what to do, to press or not to press? That is the DROPIT question. If you thought that they were only happy to have this software online, then you are wrong, actually extremely wrong. DROPIT has been partnering with all kinds of engagements, such as ball games, high society retailers, and property dealers. They have sold by reverse auction (DROPIT via mobile) by partnering with the Australian Grand Prix Corporation to kick off the 2018 F1Ⓡ season at the Australian Grand Prix in Melbourne, Australia. In another live test at a baseball game, DROPIT held an auction for a $15,000 Ducati motorcycle, which sold for $3,904. They have also partnered with the Phoenix Suns with an In-Arena reverse auction platform selling off VIP seating experiences worth $3,000 starting price.
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DROPIT started off with seven auctions a week when one auction ended another filled its place, but with growing demand, these auctions have been increasing in number.
DROPIT’s business plan is to sell auctions to companies seeking to brand image their products with scintillating purchasing experiences. The companies will pay for the auction, making this a free shopping experience for everyone but the winner. However, the winner will enjoy a cut-priced item for no participation fee.
The item on auction is displayed for seven days, building up interest, and bidders cannot preset bids. This is a live only process. You either place a bid first or lose. To add more excitement to the already cliff-hanging concept is a one-minute commercial by the company that is selling the product. This makes sure that the products company, that they get full branded imaging and conceptualization, making everyone aware of who is selling it and what is at stake.
As Howell stated to the press “It’s about brand recognition for companies.”
DROPIT managed to sell on its first auction day a $495 iPad mini for $273, and a $550 GoPro for $147. They went on to sell anything from a Deadly Ponies handbag, Xbox One, a 7-Day cruise to the Caribbean, Beats by Dre headphones, a St Jerome’s Laneway festival tickets and now sell holidays.
DROPIT has a website, but don’t expect to see what is being auctioned, there, that is reserved for app holders only. So, if you want to see what DROPIT is selling next, just download their app from the iPhone store or Google Play Store and start shopping or gambling or whatever you want to call it, today.
- You need to register; you can do this online using your smartphone only, go to their site or on their Facebook page, and then get their link to download their app. You cannot get it by searching the online stores since you will get the other DROPIT, which is a bag carrying and shopping delivery app service.
- You can only participate by being online with your smartphone top participate in an auction.
- The moment an auction starts, there is a 5-second countdown timer, and then the bidding goes live.
- You place a bid by swiping up on your smartphone screen. You need to maintain the pressure on the screen for 3 seconds on the IN button; this makes sure that no “false” bids are made.
- Watch the countdown price clock, when the price you are willing to pay is reached, place your bid, the longer you wait, there is more chance of losing to another bidder.
- The first bid made is the winning bid.