Do my store’s customers need to download an app or register for Dropit?
No. Your customers can freely participate in the Dropit auctions you run on your store.
Is there a limit to the number of Dropit auctions my store can run or the value of the sales my store can make using Dropit?
No. Dropit does not impose any limit.
Are any goods restricted from being offered by my store in a Dropit auction?
Your store’s product catalogue is available to the Dropit auctions you run.
Does Dropit receive the purchase price paid by the customer that wins a Dropit auction?
No. The purchase is completed in your store’s checkout.
How can my store achieve a high sell through rate on its Dropit auctions?
Sell through rates are higher when you offer high demand products and/ or you set the reserve price at a level that offers good buying value to your customers. Advertising or informing your customers of upcoming auctions to increase the number of customers attending can also increase the sell through rate.
How can my store achieve a high sales price on its Dropit auctions?
Higher sales prices are more likely in well attended auctions that are offering high demand products and/ or good buying value to your customers.
How can my store enhance checkout completion by the Dropit auction winner?
You can enhance checkout completion rates by selecting high demand products and/ or by setting your reserve price at a level that offers good buying value to your customers.
Do I have to set a reserve price on a Dropit auction?
No. If you proceed with a nil value reserve price your auction will pass in with no winning buyer if no bid is placed before the auction reaches nil. Offering ‘no reserve’ auctions is a great way to encourage attendance and participation in your auctions if you wish to do so.
How many customers can participate in a single Dropit auction?
Several hundred thousand!
How does Dropit determine the auction winner?
The winner is determined by the first bid to hit Dropit’s server. What establishes the winning customer from other auction participants can be a very small margin in time.
What happens if a customer has internet performance issues?
As with any dynamic online store a customer's participation in an auction will be negatively affected if they have poor internet connection. This could affect their ability to win an auction.
Does the winning bid price include shipping charges?
No. The winning bid price is the value to be paid to buy the auctioned item. Other charges that your store applies like shipping will also be payable by your customer when completing checkout.
What is the duration of each Dropit auction?
Each auction will run for a maximum of 60 seconds but will end sooner when the first bid is placed. The duration of the auction is unaffected by the start price or reserve price of your auction. The speed the price drops during your auction will be faster with a higher value start price.
What happens at the end of the Dropit auction? The win and the winning bid price are confirmed to the auction winner, and they can proceed to checkout to complete the purchase at that price. The difference between the auction start price and the winning bid price is presented to the winner as a discount code at checkout. The winner has 10 minutes to checkout before the discount code expires. Other participants are advised at the conclusion of the auction that another customer has won the auction for the winning bid price.
How does the Dropit auction winner receive the discounted price?
A discount code for the difference between the auction start price and the winning bid price is available in the winning customer’s checkout.
Can a Dropit auction winner’s checkout include other Dropit wins?
Unfortunately this is not currently possible. Shopify only accepts one discount code per checkout.
Can a Dropit auction winner’s checkout include other goods from my store?
A Dropit auction winner can include other goods in their checkout but those other goods cannot include additional Dropit auction wins or goods to which a discount code applies. This is because Shopify only accepts one discount code per checkout.
What happens if the auction winner does not complete checkout?
The sale is not made if the winner does not complete checkout.
Can a store run more than one Dropit auction at the same time?
Concurrent auctions are not possible but subsequent auctions can run with just one minute between them.
How is the auction start price established?
You set the start price when you create the auction. The price will be checked and updated to reflect any adjustment on your store before the auction commences.
What fees are payable to Dropit? No fees are payable during our 30-day trial and you are not required to sign up to a fixed term subscription when you install Dropit. After the conclusion of the free trial a subscription fee of US$49 per month is charged to your store by Shopify and Shopify retains the value equating to 2% of the winning bid price paid by the winning customer when completing your checkout (excluding taxes and charges like shipping). The 2% fee does not apply to checkouts that are not completed. You can fund the fees payable through your use of Dropit and the sales you make.
Is Dropit able to work with all currencies?
Dropit works with the base currency of your store, whatever that may be. It is not though able to work with a single storefront that is multi-currency.
Is Dropit able to work in all countries and what languages does it support?
Dropit is able to work with Shopify stores globally but currently supports only the English language.
