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Buzzmart.com - Your Social Marketplace
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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 3:07 pm    Post subject: Buzzmart.com - Your Social Marketplace  

Buzzmart has received many suggestions and feedback over the last couple of months. A number of them have been taken into consideration, discussed and implemented over the development period. Among them were the concerns and doubts about seller fees (Buzzmart credits).

Itís in our interest to make Buzzmart a social marketplace that will satisfy the needs and requirement of buyers and sellers alike, so we have taken a complete change of direction in order to achieve that:

1) Selling is free: No fees, no credits. Just sign-up and start selling.
2) No banner advertising: All advertising banners have been removed from the site.

We are now proud to say: Buzzmart - Your (free) social marketplace
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 3:50 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 3:57 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

thegolfingdolphin wrote (View Post): › docWrite("quote")I like your site, and it shows that you have done some real work. It goods great.

My biggest problem I have is that you are charging a $1.00 listing fee per item or some kind of token system. Unfortunately in today's economy sellers are not going to pay a very high listing fee (yours is the highest I have ever seen) to a new site that is unproven or accepted by the public.

The sellers here see numerous new sites soliciting sellers every week. Many of these new site have very low to no listing fees. Although you have no FVF at your site, the listing fee is unattainable. Sellers today want no listing fees and a small 3.5 to 5 percent FVF, as many of us sell on many different sites.

At some point down the line you could change your fees to include listing fees, however at this time you will have almost no sellers try your site out using this format.

Tell us more about your site, How long are your fixed price listing? How long are your auctions? How do you intend to draw buyers, and then how are you planning on getting them to return again? Do you submit to search engines? Do you have any type of Bulk uploader?

There are many questions a seller needs answered before they will consider your site.

Hi thegolfingdolphin,

Thanks for your feedback. It is appreciated. Maybe signing-up will answer some of your questions, you also receive a free seller credit when you sign-up. We are still at beta phase and are improving our website everyday, this is why your comments are important to us. I will answer your question in more detail after you have signed-up as this might clear up some questions. Thanks.
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 4:10 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 4:15 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

thegolfingdolphin wrote (View Post): › docWrite("quote")I have no intentions of signing up just to get information on how your site works. Furthermore I am not interested in gambling on your site with some kind of token or credit system.

This may be some kind of a game to you, but I can tell you the sellers here are serious professional.

You need to spend a bit more time reading some of the past threads on new start up sites. You appear to be heading to the very big list of failed E-Commerce sites.

Not sure what you mean by token system. You are not forced to pay anything for signing up. The credit system works for sellers. If you wish to sell an item, you have to top-up your account to get some selling credit. Similar to a pay as you go phone when you make calls. You top up 5usd for example, you get 5 credits, which means you can sell 5 items in the listings section. There are no fees other than that. Signing-up and taking a look around is free, so I think before you negatively go and judge someones website, you should maybe learn a little more about what you are talking about. Furthermore, you get one free credit as a seller to list your item if you wish to give the selling system a try. So really your argument makes no sense at the moment, its a shame because your first post comment was far more productive. Dont judge a book before you read it.
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 4:24 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 4:32 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

thegolfingdolphin wrote (View Post): › docWrite("quote")Look I will make this a bit clearer for you. You have lost me as a potential seller.

If you can not even answer my questions in this open forum, then you obviously have some hidden agenda. Do you actually think when the other sellers here read this thread, they are going to have any confidence in you or your site.

I have given you some insight on the way E-Commerce is working in this economic time frame. It is up to you to decide if you can sustain your site with your format.

You have one item for sale. I would suggest you get a few more items before you make a grand entrance here, as you will chase the sellers away very quickly if you are not ready to be a successful E-Commerce owner.

Sorry I will not populate the website with fake listings. Secondly, all your questions can be answered if you simply sign-up for free and read some of the help section material found on the bottom left hand corner. Lastly, please stop going on about the economic time frame, it is irrelevant.

How long are your fixed price listing?
7 DAYS max
How long are your auctions?
7 DAYS max
How do you intend to draw buyers, and then how are you planning on getting them to return again?
MARKETING
Do you submit to search engines?
YES AND ARE WORKING ON IMPROVING THIS.
Do you have any type of Bulk uploader?
NO

More information can be found on the website or giving it a FREE try, with no obligation to buy any credit or token as you like to call it. We are not following the swoopoo or ebay business model.
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 4:52 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 5:07 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

When I sell my items on ebay, i can list them for a max of 7 days (if I remember correctly). If I sell something for e.g. 500USD, I get charged far more than 1USD for it, so our pricing system is pretty fair I believe given for the same listing I could be charged far more as a seller due to the sale commission which is added after the sale has been completed. All listing are also manually approved by our admins. Also we are giving out free credits to all new users as they register, above the additional one which is given for free.


No, buyers do not have to buy credits. There is only 1 type of fee, that is just for the seller to list his item on the webpage. No commission on final sale. 1USD to put 1 listing on the website, but a minimum top-up of 5USD to purchase 5 credits (take into account new users are getting free credits).
Do the buyers have a way to earn credits, via your social network? Does a buyer need a Credit Card on file with your site?

Buying is very similar to other marketplaces, you can place bids or buy instantly. However, we have a commenting system which adds a bit more fun to the entire process of buying and selling.

"Constructive Criticism is your best friend right now, consider the answers to these questions to be available for interested parties without having to sign up first."

I agree with you on that!
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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 5:14 pm    Post subject:  

Do the buyers have a way to earn credits, via your social network? Does a buyer need a Credit Card on file with your site?

No buyers do not need or earn credits. Sellers need credits just to list their products. Buyer does not need a credit card on file, transaction between buyer and seller is done via the installed paypal and moneybookers api. Topping up your account as a seller is also done through PayPal and Moneybookers. We do not hold any credit card information, and never will.
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 5:32 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 5:49 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

Lets start with a maximum of 7 days for a fixed price listing on eBay. This is completely false. A Fixed price listing is for 30 days on eBay, and the cost starts at .03 cents.

Ok, we will look into this. For fixed price listings we can increase the time it is live on the website. Good point. But if I sell something for 5000USD, my only cost is 1USD (equivalent of 1 credit)

Now I have about 7 thousand high end collectibles. If I was to list these at your site for $1.00 each for seven days, and I did not make any sales. I would have spent seven thousand dollars. There are many sites advertised here that have no listing fee at all. If I list these same seven thousand items at one of the free listing sites, and made no sales I would have gained a profit of seven thousand dollars over your site.

Glad you mentioned this, this is one of the things I dislike about ebay, 7000 of the same listing. 7000 of the same rubber case which has a price of 40cents (for example). We are wanting to avoid these types of listings, where the website is flooded with thousands of the same low priced items. If you are going to list on buzzmart, its going to have a value which will return a good amount of profit once your 1USD listing fee has been deducted. We are talking about things that are a minimum of 5USD at least. Secondly, you can list with quantities above 1 for fixed pricing, and you will still be deducted 1 credit. So, I can start listing a rubber case and put a quantity of 100 but only 1 credit will still be deducted. Again, our model has tried to avoid the type of marketplace where you have to spend hours searching through thousands of the same low value items until you get to what you are looking for, although we do have a good search system in place. This is why we introduced this type of fee mechanism, as it is not worth it to do what you have described above.

Why do you have to purchase credits to sell? Why cant you just charge a dollar to list an item?

No there is no taxing. We use PayPal and Moneybookers to receive top-up payments. The reason we do the credit system is because we deem it to be safer. Scammers and fraudsters are less reluctant to pay 5USD over 1USD (yes its true). Secondly, the credit system makes it far more easier to manage user accounts, sellers also know how much they are spending to list an item, and we do not always have to send users to a checkout system every time they place 1 listing on the website. Its convenient this way in many ways. Also when we deny listing and cannot approve them, we just refund credits rather than cash. Its far more easier and quicker, than having to login to the payment portal, find the listing insertion fee and then refund the user. There are many reasons why the top-up credit system is far more convenient. At least we believe so. Again, we wanted to do things different, not because we just want to be different, but because we think its works better this way.

I got to tell you, your concept has been seen here before and is commonly referred to as a gambling site.

Gambling site? Again, this comment makes no sense. I think you have completely misunderstood the concept and you are exaggerating.
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 6:11 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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geopopo



Joined: 28 Aug 2010
Posts: 27

Posted: Sat Aug 28, 2010 6:23 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

Again, references to ebay are made because you asked questions which have little relevance to our marketplace concept because you did not bother to actually test the website, so my assumption was for the sake of making it easier to explain as you are so fixated on asking questions which are relating to existing business models, I had to use ebay as the reference, as you have obviously assumed we are doing the same thing as ebay does and all the other ebay clones for that matter. Again, you made a judgment about something without properly looking into it. I would be far more grateful if you actually had a test of the website before making negative comments about us being a gambling site and so on and so forth. However, I am glad you have asked the questions you have and we will take some of your points into account.

Now, may I ask, can I have a link to your ecommerce website?
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thegolfingdolphin



Joined: 13 Jan 2009
Posts: 885

Posted: Sat Aug 28, 2010 6:30 pm    Post subject: Re: Buzzmart.com - Your Social Marketplace  

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