Catawiki, the online platform where millions of designer chairs, paintings and watches are auctioned every year, is revamping its business model. From now on, a 'buy now' button will be available, allowing buyers to checkout directly at a fixed price. With this change, Catawiki expects to reach ten times as many buyers.
Chief commercial officer Frederik de Beer. Photo: Catawiki.
Catawiki is introducing a new feature: the 'buy now' button, an innovation that could change the traditional auction model. This is the biggest innovation since Catawiki was founded, according to Frederik de Beer, chief commercial officer. The button allows buyers to buy an item immediately, up to 24 hours before the end of the auction. This change responds to the need for instant gratification and aims to attract a wider group of buyers who don't want to wait or lose in an auction.
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