Every Friday evening, instead of unwinding to the latest Netflix series or heading to a bar — or partaking in some other activity often associated with the spirit of TGIF — Collin Chua, 31, and Ryan Goh, 34, can be found busying themselves in their fish shop at Tampines Street 44. Behind half-closed shutters, the owners of Seafood Boy , together with two staff, unload and weigh the bounty they've collected from local fishermen, and prepare to auction off the day's haul via a Facebook Live session. They are not the only ones. Live auctions are a pretty ubiquitous phenomenon on Facebook these days. Countless merchants and retailers — both big and smaller brands — are tapping on the platform's live video broadcast feature to sell, promote or educate the masses about their products and offerings. The premise, at least for Seafood Boy, is simple: Facebook users, many of whom are already followers of the company's page, participate in the weekly auctions by joining a live stream, which features Goh showcasing one fish (displayed on a bed of ice) at a time. Interested participants then bid for the fish in question in real-time by posting how much they are willing… Read full this story
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