Part I summary
The majority of penny auction players are inexperienced, yet they played on 3 sites or more and a play a few times or more each week . More than half are aged over 35.
Of all the respondents:
- More than 55% have bid on 3 or more sites.
- Only 38% have been bidding for 6 months or more.
- 21% bid every day.
- only 19% are spending $91 or more on bids every week.
Why a survey?
In an effort to build the best penny auction site possible, the Winzee team conducted a survey. This is part 1 of 4 where we reveal the results. We publish the results with the hope that all penny auction players and site owner will benefit from our research so the industry can grow and mature beautifully.
This survey includes results from a survey that was run in March 2011. The survey had 111 respondents. Most of them (89) are members of our penny auction strategy site which we emailed to get their opinion. The rest come from links to the questionnaire that were published on the web, in forums and broadcast thru Twitter where we invited people to complete the survey. Answering the survey was not mandatory but we conducted an aggressive campaign to get as many answers as we could.
Penny auction player gender
The vast majority of surveyed players are men.
Penny auction players are mature
Penny auction players tend to be older rather than younger as 64% of those surveyed are over 35 years old.
Penny auction players are inexperienced
Penny auction players are inexperienced. Only 17.1% of respondents have been bidding for 1 year or more and almost half have 6 months or less experience. This is not surprising given that this industry is plagued by a very high customer churn rate. 13.5% are sitting on the gate, having never tried penny auctions at all.
Penny auction players try a lot of sites
Only 16.4% of those surveyed have played on a single site! 83% have played on two sites or more and a third have bid on 5 sites or more!
Penny auction players are very active
53% of respondents bid at least a few times per week and only 2.8% have played once and will never play again.
Penny auction players spend a lot money
Only one in five of those surveyed were not currently playing on penny auctions. About 50% of players spend more than 30$ a week and 12% of respondents spend more than $131 weekly. One player in three spends 30$ or less per week.
Coming up in following posts:
- Sites players love and hate
- Sites players trust and mistrust
- The level of satisfaction with penny auction sites
- The whole truth about “Buy it now”
- What players look for before buying
- and more…
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This is part two of four where we publish the results of a survey we conducted in march 2011.
- Part 1: Player Profile (you are here)
- Part 2: How Bidders Avoid Scams, Player Satisfaction and Buy It Now
- Part 3 will be published soon!
- Part 4 will be published soon
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