Chris Posted December 13, 2004 Report Share Posted December 13, 2004 DALLAS - Woot.com takes an unusual approach in the crowded field of Internet retailing. It sells just one item each weekday, starting at midnight local time in suburban Dallas, where the company is based, until it sells out. Woot — short for "Wow! Loot!" — doesn't tell its shoppers how many watches, laptops or hot-tub phones it has. It just sells what it has in stock, and when the item is gone, sometimes within hours, that's it — there are no rain checks, nothing else to buy. Shoppers have to wait until midnight for the next offering. The site has developed a fanatical following.More | HereView | woot.com Quote Link to comment Share on other sites More sharing options...
-pops- Posted December 13, 2004 Report Share Posted December 13, 2004 Very interesting marketing concept :) Such is the greed of the human psyche there will be an awful lot of people spending an awful lot of money on an awful lot of things that they don't want, need or could possibly ever make use of.You may not remember some years ago there was a newspaper report of a salt shortage. Within almost no time the supermarket shelves were devoid of salt. Excuse me but the county of Cheshire is built on salt - billions of tonnes of it. The sea contains almost infinite amounts of salt but, people being what they are, they had to buy, buy, buy. Another instance was a bakers strike. I saw for myself women resorting to fisticuffs to be able to have the last loaf in the shop. Did they need the bread? Most certainly not. If things were really that bad there are plenty of other staple foods to eat, never mind there being flour and yeast freely on sale a few shelves away.Woot should do very well indeed! Quote Link to comment Share on other sites More sharing options...
-pops- Posted December 13, 2004 Report Share Posted December 13, 2004 Another illustration of consumer stupidity is going on at the moment where you may have noticed there is a shortage of lard in supermarkets. My local Tesco had a date when lard stocks will be arriving at the section in the cooler where it is placed. Sure enough, on the day of its arrival there were the gullible waiting and then putting several packs each into their trolley. Do they need all of this lard? No, of course they don't. They've heard that there is a shortage of pork fat in Eastern Europe. Consequently, they have to stock up on it and all its derivatives. Note the vegetable fat based lard type material was sitting there aplenty.This is not digressing from the point of this thread, it's just illustrating that this Woot marketing concept is a very good one - they will sell out of everything they put up just because of its evanescent nature. It matters little what the item is. The fact that the supply is limited in some (any) way will create a market for it. Quote Link to comment Share on other sites More sharing options...
Scarecrow Man Posted December 13, 2004 Report Share Posted December 13, 2004 They're using human stupidity to sell thier products.Sorry couldn't think of a more fitting word although I am sure there is one. Quote Link to comment Share on other sites More sharing options...
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