THIRUVANANTHAPURAM: What if someone said that you could get your hands on your favourite gadget at a throwaway price of under Rs 5? Sounds too good to be true but it is very much possible with Bzinga, a new app that allows users to grab some of the most sought after consumer products by bidding the lowest and unique prices. This first-of-its-kind online auction platform was launched on June 18 primarily for Malayali users.
A user can log on to the app and scroll through the live auctions available for the day. If interested in participating in an auction, he or she can purchase a coin or a ticket to access the bid.“The price of the coin is about Rs 4.5 on an average. Once the ticket is purchased, the user can start bidding for the product. The bidder should quote a price that is the lowest and one that has not been quoted by other participants to win the product.
The key highlight of the Bzinga is that it takes the innovative approach to auctioning by rewarding the lowest bidder and not the highest. The app is especially targeted towards Millennials and Get Zers by offering a low-risk high-reward opportunity,” says Piyush Rajgarhia, business head, Bzinga. With a tie-up for a game show on Zee Keralam channel in the pipeline, Bzinga primarily wants to render an enhanced shopping experience to Keralites.
“We decided to kick the app off in Kerala first as the state has a high number of smart phone and internet penetration. Also, in spite of not being very densely populated, our research showed that the number of people who participate in auctions and lottery raffles is high,” adds Piyush.