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1 2012

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Quantitative analysis of internet auctions advertising features: an empirical study

Wojciechowski A., Warczynski P.

Control and Cybernetics

2012

Vol. 41, no. 4

851--865

Internet auction sites are trading platforms with huge number of visitors who may become customers. On-line auctions allow users to buy and sell products without geographical borders, as in majority of cases ordered products are delivered by surface mail. The aim of the study was to collect substantial amount of data describing on-line auctions in a variety of attributes, and customer behaviour. We provide quantitative arguments in the discussion on effectiveness of promotional features used in on-line auctions. Experimental survey showed that almost 2/3 of the total number of observed auctions were indexed in five top (out of 23) product categories. Noticeable difference in sale effectiveness was observed for particular days of week and hours of auction termination. On Saturdays and Sundays the chance to terminate an auction with transaction was 17.72% and 19.46%, respectively, while on Tuesdays – Orly 14.29%. The highest ratio of successful auction-transaction against total number of auctions ending within particular hour occurred between 19:00 and 22:00. Our approximation of job lot transactions showed that it was a common practice among bidders to buy more than one product form one seller. In the reference period about 25% of all transactions could be qualified as job-lot ones. A miniature image displayed by auction title appeared the cheapest and most price effective form of advertising an auction while promoting on action site main page was the most effective in increasing visits/displays (by 2341%), yet, the high price of this advertising feature may pay back only if customers’ visits turn into transactions.