$90 Million in Funds Raised for U.S. Non-Profits
Silent Auctions Increasingly Moving Online
Cambridge, Mass., April 26, 2010 —BiddingForGood, the leading cause-related e-commerce platform connecting consumers and marketers to thousands of nonprofit auction events, announced today that it has passed $90 million in merchandise sales supporting non-profits and schools across the U.S. BiddingForGood has recently been raising an average of $170k/day for these organizations.
The rise in BiddingForGood merchandise sales is a direct result of the increasing trend of silent auctions going online to reach a broader bidder community and to offer marketers and item donors more visibility and measurability.
1) BiddingForGood has raised $90 Million for non-profits with $5 Million raised in the past 30 days
- 2) There are 200,000 active bidders on the platform right now with 20,000 added over the past 90 days
- 3) There have been 10,000 auctions run over the past 7 years with 10% of them running in the past 90 days
- 4) There is just under $3 Million in catalogue item inventory from participating advertisers waiting to be placed into auctions to help boost fundraising efforts
BiddingForGood's growth can be partly attributed to the fact that more and more consumers are becoming socially responsible shoppers. According to studies by Cone Inc, 79% of consumers say they would be likely to switch from one brand to another of the same price and quality, it the brand is associated with a good cause. "As BiddingForGood has continued to build a unique base of loyal shoppers, it has become apparent that company better encompasses the evolving consumer positioning." says Jon Carson, CEO of BiddingForGood. Carson adds, "We see more community minded affluent consumers on our platform who appreciate doing business with organizations that have a social commitment to the community and have built the best-of-breed platform to ensure that these shoppers have the best experience possible and that non-profits have a tool that demonstrably makes them more money."
BiddingForGood is now working with over 50 brands who wish to reach affluent consumers through their causes just as they are making purchasing decisions. Charity auctions reach the nations most affluent consumers through their trusted causes. These consumers who, in bad economic times, retain the buying power for luxury items and are look to purchase items that support a good cause.
BiddingForGood is the leading cause-related e-commerce platform connecting consumers and marketers to non-profit fundraising auction events. Online auctions powered by BiddingForGood have generated over $100 million 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.