Visionary entrepreneur Daniel Nissanoff breaks the news that the eBay auction phenomenon is about to revolutionize how all consumers do their shopping, not only online, but offline as well. The big payoff of this revolution is that consumers will be able to "trade up" by embracing a new norm of temporary ownership. We'll be transformed from an "accumulation nation" into an "auction culture". In the new auction culture, Manolo Blahnik shoes, a Louis Vuitton handbag, a Hermčs tie, or a Bugaboo baby stroller will actually be smart buys, not indulgences.As huge as eBay has become (now the tenth-largest retailer in America), it has only scratched the surface of the potential for online buying and selling.
Nissanoff, who is at the center of the revolution as the co-founder of one of the leading-edge companies, takes us to the future where buying the finer things is smarter. Along the way we're introduced to the full range of new business cropping up, as well as a variety of online shops that lease products, such as the hottest designer handbags and the latest model of golf clubs.
Even as the auction culture offers a wealth of new opportunities, it will also pose serious challenges for retailers and brand managers. Nissanoff analyzes these challenges and presents an ingenious set of strategies companies can employ to turn the challenges of the auction culture to their advantage.