RealTime IT News

CyberShop Jumps Into Auction Pool

Online retailer CyberShop International, Inc. followed the latest Net shopping trend Friday by launching an auction site, CyberShop Auctions.

Relying on the auction as a proven retail model in the industry, the company will auction apparel, housewares, electronics, toys, luggage, home office, jewelry and watches.

CyberShop said its entry into the auction market supports its refocused merchandising strategy targeting outlet store and off-price categories. The company sells brand name, first-quality, end-of-season and excess merchandise.

"Auctions are a natural extension of our core strategy to grow our revenues and customer base by offering 'great deals on great brands,'" said Jeffrey Tauber, CyberShop chairman and chief executive officer.

"With the growing interest in online auctions, we are excited to offer a new shopping experience that capitalizes on this demand, offering customers the unique opportunity to bid for brand name merchandise."

With the auction site, the company said it plans to leverage its existing strategic marketing agreements with sites such as America Online, Excite, Microsoft's MSN Shopping, Yahoo! Shopping, Amazon's "Shop The Web" and E*Trade's Shopping Center.