A New Online Auction Site Brings Your Favorite Brands at 5% of MRP

Online, September 27, 2011 (Newswire.com) - Dealite.in launched their disruptive auction site on September 5, 2011. In a unique auction model, buyers on Dealite.in compete with limited bidders in quick-format auctions to win products at up to 5% of MRP. The initial days after the launch of the site has seen tens of thousands of visitors to the site and an immediate acceptance of the revolutionary auction model introduced in India by Dealite.

The founding team includes ex-eBay, ex-PayPal, IIM-A alumni and eCommerce industry veterans with a mission to break the price barrier for acquiring leading aspirational brands.

Unlike traditional penny auctions, Dealite differentiates by being exclusive to a limited number of bidders who buy a seat to participate in an auction. In return, Dealite offers them an equal amount of free bids which can be used in the auction. As the starting price is always zero and each bid increments by only Re. 1, auction participants can win premium products at 5% of MRP.

Dealite provides all participants an option to 'Buy it Now' where the entire seat cost and bids are added to the final discount.
In India, according to sources at a leading payment gateway, there are over 130 deal sites as of August, 2011, that are competing for 100+ million internet users. Dealite's founder, Vijayanand Shekokar claims, "Dealite is turning the conventional eCommerce model on its head, and creating an exponentially 'dealiteful' experience for its users. We aim to make aspirational branded products available to all Indians at affordable prices.

Head of Online Marketing, Sameer Khandelwal surmised, "Dealite is proving itself to be the missing link in the Indian eCommerce evolution that will enable consumers to experience a new freedom in shopping & gaming." With delivery across India and alliances with leading payment gateway and logistics firms, Saurabh Vagal, Head of Operations suggests that India is ready for a new wave of innovative eCommerce businesses. Initial signs endorse this view with huge successes in the initial auctions announced by Dealite and the exponentially growing traffic that the site has been attracting since its launch.