By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

AN online shopping mall has attracted “well over 600 registrants” just days into its official launch, telling Tribune Business its business model provided a platform for regional distributors to showcase their products.

Michael Pintard, business consultant to Easybids242, said the online entertainment shopping mall, which has a retail store component, was looking to expand its reach both in the Bahamas and wider Caribbean.

The business, which officially launched last week, employs 14 persons. Mr Pintard said that between $500,000 to $1 million had been invested into starting the business, which offers a wide range of electronics, housewares, kitchenware, beauty supplies, tools, sporting goods, toys and designer accessories.

“The shareholders did a comparison of a similar business model in the United States,” Mr Pintard said. “They thought the model was one they could improve on, and a team of relatively young people got together, did the required studies, software development, website development and integrating various systems to create what the public now knows as Easybids242.

“From day one the goal was to create a system which, from technological standpoint, was secure and consistent in its reliability. The goal was to also create a business that was in part for entertainment, and even more importantly to provide substantial discounts to those that would be successful in the bidding process, and in the process generate employment for Bahamians and income for shareholders.”

Explaining how Easybids ultimately works, Mr Pintard said: “We have an online shopping mall that persons access via Facebook and the website. You are also able to visit the retail store, where we have on display a portion of our inventory, which is what enables us to provide customers their items within three working days or, if they wish, to get it the same day. They can come in to the retail site and actually access the item.”

Dominic Nottage, Easybids242’s IT specialist and retail store manager, added: “Basically it is a bid contest e-commerce site, with a retail store side. People register, they get 10 free bids and they can purchase bids, $5 for seven bids, $10 for 14 bids, $20 for 30 bids and so on.

“Each time you place a bid, the price of the item goes up one penny. It’s not about how much money you bid; it’s about how many bids you have in your account. If you’re the last bidder all you have to do is bring your ID and pay whatever the price ends up being.”

Mr Pintard said public response has been strong despite the lack of any major promotional efforts thus far.

“The response has been very good, and it’s surprising how quickly the public has caught on to the process and supported the business,” he added.

“In the first day-and-a-half we registered a little over 300 persons, and at the four-day mark we were at over 600 persons and growing. Our advertising campaign has just begun. We can’t say that we have been advertising in earnest. We fully expect that as we advertise throughout the various media houses, the growth will be exponential. We have got persons bidding from the Family Islands as well. We have done no advertisement directly in the Family Islands.”

Mr Pintard added; “A part of our plan is to continue to expand the line of products that we carry. We have persons calling us who are distributors for brand new products hitting the market, which they happen to have the distribution deal for in the region, and are seeking to have their items placed on our site so that persons might either bid or purchase outright.

“We intend to build on those relationships and expand that aspect of the business. We certainly welcome innovative products that have just emerged in the US, European or Latin American market, and for those persons wanting to have their product seen we believe we can provide a platform for their products.”