Former football chief aims to

By: watches2010 Mood: Date: 02/19/2010 19:49:07 Music: None

CONSUMERS have been spending pretty freely at the moment, judging by the raft of bullish updates that came from the likes of the Office shoe chain owned by Sir Tom Hunter last week.

But with the restoration of VAT to 17.5% and continued high unemployment expected to pose challenges this year, retailers and shoppers alike will have a keen eye out for savings.

That means the internet will be the focus of lots of attention. This week we hear from a man who has held big jobs in industries as diverse as soccer and airlines who is helping a Scottish business in its attempt to pioneer a new approach to online shopping.

Name: Bruce Langham

Age: 62

What is your business called? Biduhappy.com

Where is it based? Online with offices in Edinburgh

What does it produce, what service does it offer?

Biduhappy.com is a new online shopping concept. Instead of consumers spending time and effort searching out the best price or deal, on Biduhappy.com the consumer places an "auction" for the product he or she wants to buy and retailers then have between one and 10 days to offer their best deal for that product, undercutting one another to compete for the business.

We currently have over 500 retailers signed up in categories as diverse as bicycles to binoculars and watches to wine.

The clever thing is that the site is entirely scalable; as consumers feed back that they're looking for a particular category, we'll invite retailers of those products to join - and we can do this in a very short time. Retailers are sent automatic notifications when a new auction is placed on site so they are primed and ready to bid.

To whom does it sell?

Online shopping is massive. Over 26 million shoppers in the UK regularly use the internet for purchases, spending an average of pound(s)1600 per year and it's estimated that this market will be worth up to pound(s)78bn in 2010. Online retail is also an area opalPlating Pendant that has stood up strongly during the current economic recession, with year-on-year spending actually increasing by double-digit percentages in many retail categories.

We think Biduhappy.com will appeal right across the consumer spectrum; people lead busy lives so a site where the retailers come to them to compete for their business, saving them time and money, has huge benefits.

We also provide access to smaller retailers that many consumers would not otherwise come across. Research carried out on our behalf earlier this year did show that many people like to shop - on or offline - at larger, nationally-known, chain stores. This was both for convenience and for the cost advantages of buying from a store with vast purchasing power.

However, the research also showed that many people would like to buy more often from smaller to medium-sized independent shops. People like to feel they are supporting the individual against the giant shopping megaliths and although aware that independent stores may not always be able to compete on best price, consumers know that smaller retailers offer their own advantages such as greater product knowledge, after-sales service and the flexibility to 'do a deal' that is not totally reliant on price, e.g. perhaps throwing in a free bottle of wine with every case.

What is its turnover?