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Internet shopping is something that almost everyone is involved in these days. Compared to the high street, internet shopping offers people exceptional value for money. Why? Shops that operate on the high street have ridiculous overheads that they need to cover. A busy high street store might cost £100,000 per year and that is just for rent. On top of this, they need to pay for employees (even on the days when they do not sell much). In order to make a profit, they have to price their products in a way that covers all of these expenses. So, you should just use online stores, right? Not necessarily. Although online stores tend to have better deals that high street stores, they are nowhere near the prices found at most online auction sites. Instead of just offering items at 5-10% discount, auctions sites go that extra bit further. The competition on these sites is fierce and in order to make sales, prices are incredibly low. Generally, these types of websites will have items that are 30% or more below the retail price. This offers the chance to get some huge discounts. In fact, it means that many people can purchase items that they might not have been able to afford in the past. Why are auction sites so much cheaper than everywhere else? A lot of companies use these online auctions as loss leaders. A loss leader is when a company makes a loss (rather than a profit), simply for the fact that they expect to make money elsewhere. For instance, they will sell a product for £90, even though it has cost them £95. They hope that the consumer will use their products and/or services in the future, which is where they end up making a profit. For people that are just looking for the odd product here and there, this is a great way to save money. In fact, a lot of auction sites are also full of stock clearances too, which you wouldn't be able to find on the high street. Instead of looking at new ranges that are just 10% below RRP, you'll end up finding last years stock, which could offer people discounts of up to 50% on many occasions. This is where people can really start to make some huge savings. What you need to take into account when searching through auctions sites. The stock on these websites changes on a daily basis. When you find a bargain, if you think it is good value for money, then you should just go for it. The reality is that this deal might not be available for very long. If you miss out on the deal, it might not ever come up again. This is different to a retail store, where they stock new ranges and essentially, there is a never ending supply of items available for purchase. When old stock is gone, it is gone for good. There is generally nowhere for the supplier to buy these items from again. BidGrid is a popular online auction site in the uk where the lowest unique bid wins. It's an innovative style of auction which allows people to get massive savings on new branded products. You can sign up for free at BidGrid and test out the bidding process in the practice auctions without depositing any money.
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