Crossmarket Corporation Prepares To Launch First Business-To-Business Internet Auction For Home Furnishings Industry

Furniture World Magazine

Innovative industry professionals unite to create the only business-to-business Internet-based auction for the giftware, housewares, tabletop and specialty-item industry. CrossMarket Corporation's four visionary founders are preparing for the launch of the Internet's first business-to-business Web site specifically for giftware, housewares, tabletop arid specialty items. The site provides a forum for manufacturers of high-end retail products to offer their items to specialty retailers and boutique owners via Internet auctions and fixed-price sales. It is located on the World Wide Web at http://www.crossmarket.com. With 45 years of combined experience in retail, product management and cuttingedge technology, CrossMarket Corporation's founders recognize the Internet as a powerful communication vehicle and business transaction tool. "Our goal is to provide an easy to use, efficient service for manufacturers and smaller specialty retailers to interact on a frequent basis. This would have been a daunting task in the past without the convenience and scope of the World Wide Web; but, it's now a reality and the future of this industry," comments Mark R. Florence, president and co-founder of CrossMarket Corporation, the provider of cross market.com. The site is only accessible to certified suppliers and retailers/shop owners. Suppliers register their merchandise online with CrossMarket Corporation. Once approved, the products are categorized by type and listed on the site. Retailers, who must have a password to access the auction, go to the site to preview the available merchandise and place their bid. Bidders may customize the site to view only those items in which they are interested. By using the site's BidValet™ feature, retailers can have the system increment their bid automatically (up to a maximum amount which they specify) so they don't have to stay online. Throughout the course of the auction, the site informs bidder's of their status, in addition to announcing winners at the auction's close. Auctions typically run for a full week. "As a time-crunched boutique owner of upscale giftware and specialty items, crossmarket.com provides me with a convenient way to purchase brand name products. I will now be able to evaluate and purchase merchandise from the convenience of my home or office anytime, since crossmarket.com is available 7 days a week, 24 hours a day," states Robbie Ponoroff, JP Crystal's owner. "And, since crossmarket.com provides detailed photos and descriptions of literally hundreds of quality brands that I have had in my store for years, I know exactly what I am buying." Manufacturers will also benefit from cross market. com's service in that they will have the opportunity to reach a new audience for their product. "As a supplier, we have been struggling with ways to better partner with our smaller retailers, who are a significant part of our customer base. Crossmarket.com will provide us with a cost effective and time-efficient method for reaching and expanding our smaller retailer base," states Morry Weiss, chairman and chief executive officer of American Greetings Company. Suppliers interested in participating in this service may call Andrew F. Matus, vice president of sales at 781/393-4411. Retailers may register free of charge through the Web site at http://www.crossmarket.comcross m arket.com or via e-mail at their convenience. About CrossMarket Corporation: Headquartered in Medford, Massachusetts, CrossMarket Corporation is the founding company for crossmarket.com, the first online, business-to-business auction specifically for giftware, housewares, tabletop and specialty items. Entrepreneurs Mark R. Florence, president, and vice presidents Andrew F. Matus, Jayson H. Score and Richard M. DeFuria formed CrossMarket Corporation in 1998. For more information on CrossMarket Corporation's service e-mail them at info@crossmarket.com.