Lauritz.com is maintaining and further developing its existing position as the leading game changer in the online auction industry.
Important drivers for the online auction market include Internet accessibility and consumer preferences. In the period from 2010 to 2015, access to the Internet in households across the EU increased by 13 percentage points to 83%. Lauritz.com has chosen geographical markets in countries where access to the Internet is most available. Lauritz.com´s core markets are Germany, Belgium, Denmark, Sweden and Norway, where Internet access amounts to 90-97%.
Lauritz.com is geographically well-positioned to take advantage of the growing e-commerce market. Over 60% of all individuals in Germany, Norway and Denmark have purchased an item online whithin the last three months of being surveyed (2015). Also, individuals are increasingly selling goods online. This development is partly driven by Internet penetration and a maturing of the auction industry. In Denmark, Lauritz.com´s largest market, 37% of individuals surveyed had used the Internet to sell goods or services in 2015. This is significantly higher than the EU average at 19% (2015). E-commerce in Lauritz.com´s core markets is currently growing at around 10% annually in local currencies, with the Danish e-commerce market expanding the most at 18% annually 2013-2015.
Lauritz.com focuses on the auction market segment for lots with a value between EUR 80 and EUR 5,000. This segment positions Lauritz.com between peer-to-peer platforms with high volume at low prices and the fine art market with low volume and high prices.
Lauritz.com’s competitors in general include other online auction houses, physical auction houses and peer-to-peer classified companies. Online competitors include Artnet and Paddle8, but they are either not in the same region or are only active online and do not therefore offer the traditional auction services, such as showrooms, distribution and independent estimations, that Lauritz.com does.
Companies targeting the large market segment below Lauritz.com’s auction market segment are notably eBay and Blocket.se – companies that are pure online peer-to-peer platforms and lack Lauritz.com’s traditional auction services.