Bidz.com faces a disappointing Q1'11
Bidz.com saw a drop across the value of its sales and the number of new buyers in the first quarter ending 31 March 2011. There was a 12 percent drop in revenues y-o-y to $24.9 million, a 7 percent drop in the average selling price per order to $187 and a 2 percent drop in the average sales value per item to $47. The number of new buyers also decreased, although by a small 1 percent to 40,711. Net loss was widened by 244 percent to $382,000.
The online retailer stated that it is striving to strengthen its business with a focus on the overall end-to-end customer experience.