Evening STW.
Reaching out for some ideas on this question, as its given me 2 obvious thoughts –
1 – It is wrong, and we should do something about it..
2 – We should be doing the same sort of thing..
Long story short, we sometimes (once every 1/2 months) purchase our products through a sealed tender bid system. Its a fairly competitive market, and the products can range from small stock, up to industrial buildings.
We have noticed lately a direct competitor of ours is listing these products for sale in various ways (eBay for one example). Before the auctions have finished, and all tender bids have been placed.
Obviously this is a way to see interest at certain prices, and work out the ideal offer price to profit ratio.
Now, for certain products it could be just a coincidence, and they are selling items they already stock..
However for other items, there is no way they can hold stock of an identical item.
What would you guys do in this situation?
It feels strange to try and sell something without owning it first.. Especially through direct to customer routes such as eBay..
What do you think??
Cheers
J