Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Cash Converters And Trade Me Enter Joint Venture

15 November 2005

Cash Converters And Trade Me Enter Joint Venture

Cash Converters and Trade Me have entered into a joint venture that is good news for both companies as well as their customers and members.

Cash Converters is the largest secondhand dealer in the retail sector in New Zealand. Trade Me is New Zealand's largest online marketplace with more than 1.2 million members.

The core business of Cash Converters is to retail secondhand goods through high profile premises located around New Zealand. In recent times, Cash Converters has been investigating and trialling the sale of selected goods through Trade Me.

This has now been formalised with a joint venture agreement. The two companies see good opportunities in working together. Trade Me will benefit from more listings and Cash Converters endorsement. Cash Converters network of stores will be able to access the nationwide audience of Trade Me.

Cash Converters will use Trade Me for mainly unique, specialist and/or high demand products. Cash Converters will analyse what is selling well on-line and load stock accordingly. All items sold by Cash Converters will be identified as such. Potential buyers will be able to go in-store in some cases to view the item for themselves if they wish. In addition the Cash Converters goods sold via Trade Me will carry a full 30-day warranty.

"The Internet and the way in which New Zealanders have embraced it meant that expanding our online trading was the next logical step," says Cash Converters General Manager Sue Tuia.

"This joint venture has, in effect, provided another marketplace for Cash Converters. It is an opportunity for Cash Converters to expand its customer base to those who prefer to shop online. At the same time it means that Cash Converters won't be going into competition with a business that holds 98-percent of the online market. Instead, we will support each other."

"Cash Converters is constantly reviewing its business model and identifying opportunities that will attract more customers and sales and result in the business growing."

TradeMe's head of business, Mike O'Donnell says his team is delighted to be entering into a joint venture with Cash Converters.

"We think the value add of dealing with a respected brand like Cash Converters will bring benefits to our community and further deepen the richness of options available to consumers on Trade Me," says Mike O'Donnell.

The joint venture is live from today.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Climate Leaders Coalition: Launches New Statement Of Ambition, Appoints New CEO Convenor

The Climate Leaders Coalition is tonight officially launching a new Statement of Ambition to accelerate business action on climate change... More>>


Retail: New Law Paves Way For Greater Supermarket Competition

Legislation that bans major supermarkets from blocking their competitors’ access to land to set up new stores paves the way for greater competition in the sector, Minister of Commerce and Consumer Affairs Dr David Clark said... More>>



International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>


MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>



Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>