CHICAGO, Nov. 8 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW), the
leading provider of maintenance, repair and operating (MRO) supplies, today
announced that it has begun offering online auctions on its Web site,
http://www.grainger.com . Grainger Auction gives customers an opportunity to place
real-time bids on surplus MRO products from a variety of categories, including
janitorial, metal working and hand tools.
Grainger Auction is an early player in the online business-to-business
auction market, expected to reach $52.6 billion by 2002, according to
Forrester Research. Currently, Grainger lists approximately $5 million in
auction inventory.
"Online auctions give customers a new way to do business with Grainger by
providing superior values on a large inventory of clearance and specialty
products each day," said Daniel Hamburger, president of Grainger Internet
Commerce. "We believe this new feature will strengthen our important customer
relationships."
Powered by FairMarket, Inc., a leading provider of auction technology and
services, Grainger Auction will serve as another channel for generating
revenue and growing the online community of Grainger customers. Along with
daily specials, customers on Grainger Auction can bid on discontinued products
and other items no longer carried in the Grainger catalog.
In the future, Grainger suppliers will list additional merchandise on the
auction site, including products that fall outside the traditional Grainger
offering.
"Using Grainger Auction, we are giving customers the opportunity to name
their price for discontinued GE Lighting merchandise. It's a strategic
business move that will strengthen our relationships with customers, and
solidify our long-term partnership with Grainger," said Billy Gandy, eCommerce
Leader, GE Lighting, North America.
Auctions are the newest feature on Grainger.com, recognized as one of the
top business-to-business sites by Advertising Age's Business Marketing for the
past three years. Grainger's online businesses also include
OrderZone.com(SM), a one-stop digital marketplace, and strategic alliances
with buy-side partners such as Ariba, CommerceOne, PSDI and SAP.
"Adding online auctions to our electronic commerce repertoire provides
another dimension to Grainger's Internet leadership," said Hamburger.
About Grainger
W.W. Grainger, Inc. (GWW), with 1998 sales of $4.3 billion, is the leading
North American provider of maintenance, repair, and operating (MRO) supplies,
services, and related information to businesses and institutions. GWW shares
are traded on the New York and Chicago stock exchanges. For more information,
visit Grainger online at http://www.grainger.com .
For more information, contact Staci Dolgin-Rubinstein of Grainger Internet
Commerce, 847-573-2666, dolgin-rubinstein.s@grainger.com, or Dan Romanoff of
PR 21 for W.W. Grainger, 312-396-9752, dan_romanoff@pr21.com.
SOURCE W.W. Grainger
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Related links:
http://www.grainger.com
CONTACT:
Staci Dolgin-Rubinstein of Grainger Internet
Commerce, 847-573-2666, dolgin-rubinstein.s@grainger.com, or Dan
Romanoff of PR 21 for W.W. Grainger, 312-396-9752,
dan_romanoff@pr21.com
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