Bloomingdales, Tiffany & Co and Macy's Ranked Top in Charity Auction Environment:
Online, April 5, 2010 (Newswire.com) - BiddingForGood, the leading cause-related e-commerce platform connecting affluent consumers and marketers to online fundraising auction events is reporting the top performers in the retail category. Retail continue to be one of the leading categories in the $16 billion charity auction market.
Some of the top retail brands on BiddingForGood include Bloomingdales, Tiffany & Co and Chanel & Coach. These brands, which are featured in a trusted online environment, have helped support thousands of causes and helped the company reach nearly $100 million in merchandise sales supporting non-profits and schools across the U.S.
Luxury retailers prove to come out on top with their consistently high sell-through rates in online charity auctions. Chanel leads the group holding a 100% sell-through rate with Kenneth Cole and Bloomingdales following. Dining, travel, entertainment, sports, and spa/health and unique experiences round out the other categories.
Tiffany & Co came out on top ten in brands with the most total units sold through the system in the retail category. Other performers making the top ten lists in the category were Coach, Ralph Lauren and Saks Fifth Avenue. Macy's scored highest with the most consumer interest with an average of 4.3 consumers bidding on each item.
Top Ten - Sell Thru Rate:
1. Chanel
2. Gap/Banana Republic/Old Navy
3. Kenneth Cole
4. Macy's
5. Bloomingdales
6. Coach
7. Neiman Marcus
8. Talbots
9. Louis Vuitton
10. Tory Burch
(Note; company initiated donations are confidential)
Top Ten - Consumer Interest (Based on Number of Consumer Bidders/Item)
1. Tiffany & Co
2. Coach
3. Macys
4. Gap/Banana Republic/Old Navy
5. Bloomingdales
6. Neiman Marcus
7. Saks Fifth Avenue
8. Ralph Lauren
9. Kenneth Cole
10. Marc Jacobs
As socially responsible consumers are becoming more prevalent, marketers are seeking more ways to engage consumers in a cause based environment. Numerous studies from Cone and others are showing that consumers are positively influenced when a brand supports a cause. Now that charity auctions are moving online, its extraordinary level of consumer engagement is measureable with the average consumer has over 20 page views per online session and the average time on an item page is over 30 seconds. "In today's time compressed world where attention spans are rapidly shrinking and brands struggle to break through, we think this high level of engagement amounts to a virtual trial", says Carson.
The BiddingForGood's marketing program positions brands into live online auctions, enabling marketers to reach category specific, affluent donors. "As more and more marketers see the measureable value that can be extracted from online charity auctions, we expect to see more and more brand names getting involved", says nationally recognized hotelier, Robin Brown who is on the company's board.
In 2010, BiddingForGood was selected as one of the OnMedia 100 winners. Inclusion in the OnMedia 100 signifies major developments in the creation of marketing tools, services, venues, and advertising, and branding campaigns. Recipients of this award are considered to be the disruptors of traditional marketing and branding methods with past recipients including Gilt, Facebook, and Technorati.
About BiddingForGood
BiddingForGood is the leading cause-related e-commerce platform connecting consumers and marketers to non-profit fundraising auction events. BiddingForGood is approaching $100 million generated for non-profit organizations by allowing them to expand their bidder universe and access a new source of items. Clients can secure more items by delivering a stronger and more measureable marketing value to item donors to ultimately raise more money from more participants as well as BiddingForGood's donated item program. The company works with dozens of brand marketers through a unique product advertising program to enable them to efficiently reach affluent donors just as they are spending in a trusted environment. This cause marketplace can be experienced at www.BiddingForGood.com.