CULVER CITY, Calif., March 21, 2011 (GLOBE NEWSWIRE) -- Bidz.com (Nasdaq:BIDZ), a leading online retailer of jewelry, today announced the launch of its brand new Bidz.com website. The new website features comprehensive, easy-to-use tools including larger thumbnail images, improved search options, top brand navigation, and an enhanced checkout process.
The new site also provides improved navigation search, and delivers personalized product recommendations based on customer behavior and purchase history. The customized model matches products based on attraction to brands, gemstones, colors, and other specific characteristics. The website will generate an assortment of products customized to the customers' own specifications. Additionally, the customized model actively recommends highly probable auctions to customers as they browse the new website.
Bidz.com is also featuring a new merchandising category, 'Daily Deals,' that will highlight several new deals every day ranging from jewelry, watches, accessories and more. 'Daily Deals' will offer free domestic shipping and can be found on the landing page of Bidz.com.
"We are excited about the launch and the many new exciting tools and features to enhance the customer shopping experience," stated Leon Kuperman, the Company's President and Chief Technology Officer. "We believe the new website will help increase conversion rates, improve overall customer satisfaction, increase average order value and lower acquisition costs. We will continue to introduce new features to the website, including social media tools and new marketing programs designed to drive additional website adoption."
Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz offers its products through a live auction format as well as a fixed price online retail store, Buyz.com. Bidz.com's auctions are also available in Arabic, German and Spanish. Bidz also operates Modnique, a division of Bidz.com, an exclusive private sale shopping site for members-only, offering authentic premium brand name merchandise. Modnique offers its members exclusive access to 24-72 hour sales events on designer apparel, accessories, shoes, and houseware and much more at price points up to 85% below traditional retail prices.
Safe Harbor Statement
This press release includes forward looking statements about the Company's estimated revenue and earnings within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect the Company's financial condition, results of operations, business strategy and financial needs. Risks and uncertainties include that our common stock is subject to short selling and trading, and prices of our stock may be volatile; that we are subject to "prank" bidding; that we may face increasing costs to acquire new customers; the ability of the Company to attract customers to its website and offer attractive products; the ability to maintain profit levels while expanding international sales; the ability to detect fraud if we fail to maintain an effective system of internal controls; the ability to maintain our website, electronic data processing systems, and systems hardware; the ability to forecast accurately net revenue and plan for expenses; that we do not have a guaranteed supply of jewelry products and that we have a heavy concentration of inventory purchased from our top two suppliers; the ability to protect our intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. Please refer to Bidz.com's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Bidz.com undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
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