Trade Me, the online auction site controlled by Fairfax Media, is eyeing up dormant retailers and smart-phone technology as a means to tap new markets, having beaten the first-half earnings forecast in its offer documents.
The Wellington-based company said it was working with several parties who are helping integrate retailers onto its online platform as it seeks to boost the sale of new goods over the website.
New goods make up 40 per cent of items sold and chief executive Jon Macdonald cited that as a growth area for the company.
Trade Me is also targeting smart-phone applications as a means to encourage consumer demand for its services.
"People find it more convenient to shop online and businesses can offer sharper prices if they do it that way," said Mark Lister, head of private wealth research at Craigs Investment Partners. "With the currency and retail rents where they are and those types of factors, there's going to be a continued shift from more traditional outlets to those models."