Rumoured from the beginning to be Telecom’s Trade Me killer, Ferrit says it has no interest in entering the consumer to consumer arena.
Ralph Brayham, Ferrit general manager, says it would make no sense to his company’s business model.
“What would the value proposition for Westfield St Lukes be to stick a flea market in the middle of the mall? It’s the same thing.”
Instead he says the most important factor in Ferrit’s business is retaining credibility with its retailers.
“Think of us more as Amazon rather than Ebay.”
Brayham and colleague Peter Wogan say their research shows people are using Ferrit as a search and compare site and plan on adding a richer forum to enhance the community aspect.
“We conduct 50 interviews a week and have found that one in five people have heard of the site. We firmly believe New Zealand can be up there with the best of breed online shopping countries,” says Wogan.