Wagglepop 2: Deja Vu as Auction Site That Left Sellers Stranded Reopens

[BellisimaJ.]

The reason people pay to be on a auction venue is that it is supposed to increase traffic to ones listings.

Precisely.   Get a clue people.

If the philosphy is the 9.99 is for space until some undefined time. And it's the sellers job to pull all the buyers that would buy from them no matter where they were located then that is a bad plan. Simply because I can post to froogle already, I can send customers to my own site. I can and anybody else can for free (plus web hosting) set up the a E-commerce site with froogle feeds..

Your 9.99 would be far better spent ELSEWHERE!

[stardust]

I'm a bit confused.  If we are hitting 2007 goals, then I assume WP had plans financially to sustain itself to then. But seeing how the numbers are way ahead of schedule and virtually self-sustaining already, I'm confused where all that other life sustaining capital went that was going to be used to sustain the company for a year...

Somebody over there is starting to think correctly.

[cranky_hippie]

We've outlined it, and said it time and again. We have a plan in place, and while some of it is dependent on increased revenues for conventional advertsing, much of it is bold, innovative, and unconventional.

If just "SOME of it is dependent on increased revenues for conventional advertsing" and RaKaren doesn't have revenue yet, that MIGHT be understandable but did he not have the startup capital that some on WP mentioned? And it sounds as if his "bold, innovative, and unconventional" ideas DON'T require money so where are they??

We all know that there are many low-cost and no-cost ways to advertise your self on the internet. Why isn't waggleflop doing any of it?

And what's all this crap from RaKaren about needing money for upgrades? With the very small amount of traffic that waggleflop has now, if they need to upgrade already, then they really were not prepared for much, were they?

[BellisimaJ.]

With the very small amount of traffic that waggleflop has now, if they need to upgrade already, then they really were not prepared for much, were they?

Good point, Cranky.

[cranky_hippie]

From a FORMER waggleflop seller:

I put in a request to close my store as well. No balance.

What stinks is, I had to pay a full month in advance to close it and I doubt I will get credit for it. $9.95 for the next month down the drain just to close a store and not one penny made here.
I'm a PS seller on another venue along with selling on other sites. I know this site is new and I wish the best of luck with it, but I can't afford to lose money again on this place.
Especially when it cost me almost $20.00 bucks, $10.00 just to close my store

bye bye

Ray, you're such an  mileyazwipe:

[bargainbloodhound]

The latest weekly Wagglepop sales numbers are out 

795 sales which on 100,000 items equates to a sell through of less than 1%. 795/5700 sellers is 0.14 sales per seller this week.

BUT WAIT-THE UNDER 1% SELLTHROUGH IS IMMATERIAL!!!!!

Typically, on most existing online auction sites, "sell-thru percentage" is used as a gauge to compare the number of sales versus the number of overall listings in an attempt to get an overall picture of revenue relative to costs. It's a necessary consideration when each and every listing, in and of itself, carries an insertion or exposure cost. Because of this dynamic, insertion fees typically represent the bulk of seller expenses, relative to other costs such as inventory.

Wagglepop uses a completely different seller business model for our sellers, who primarily sell under the umbrella of the SmartSell Pro Package.

On Wagglepop, total revenue from sales for SmartSell Pro sellers need be compared only to total cost of participation, whereby unlimited listings are not only allowed, but encouraged.

Because of that, since increased listings have no effect on participation cost, sell-thru is an irrelevant and illogical consideration.

Examples

For example, if you were to list 100 items and sell 5 items at $10.00 each, that's $50.00 of revenue, less $9.95 participation cost, which equals a profit of $40.05 before other expenses such as Final Value Fees, PayPal fees (if applicable), inventory costs, and other related expenses.

The "sell-thru" in the above example would be 5%, with a profit of $40.05

As a comparative example, if you were to list 1000 items and sell 10 items at $10.00 each, that's $100.00 of revenue, less $9.95 participation cost, which equals a profit of $90.05 before other expenses such as Final Value Fees, PayPal fees (if applicable), inventory costs, and other related expenses.

The "sell-thru" in this example would be less, at just 1%, but with a larger profit of $90.05, a $50.00 increase!

Sell-thru has no meaning in and of itself in the SmartSell Pro selling environment.

Umm, in the WP world, besides sellthrough not mattering, apparently a seller's time spent listing doesn't matter either since these examples place a value of $0 on the time spent to list the extra 900 items. s

[bargainbloodhound]

On Wagglepop, total revenue from sales for SmartSell Pro sellers need be compared only to total cost of participation, whereby unlimited listings are not only allowed, but encouraged.

Because of that, since increased listings have no effect on participation cost, sell-thru is an irrelevant and illogical consideration.

So if I cast away my eBay think that sellthroughs under 1% suck and instead think like a true revolutionary...

Wagglepop participation fee $9.95 +FVF
Bidville participation fee $0 +FVF, or $5 +FVF with basic store, or $10 with no FVF with featured store
ePier participation fee $0 +FVF
eBid participation fee $0 with free store and no FVF
i'Offer participation fee $0 with free store +FVF
Yahoo participation fee $0 and no FVF

You get the idea...  :

[BellisimaJ.]

So if I cast away my eBay think that sellthroughs under 1% suck and instead think like a true revolutionary...

:yeahright2:

[stardust]

There will be folks who willl actually believe and embrace what he's saying.  That it's a wonderful thing to waste your time and money on WP, not sell a thing, and simply enrich  his pockets.

It's so very sad it borders on being criminal.

[vitalfinds]

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