How Woot.com Won Fans in E-Commerce
Brian Carlsness needed to unload some merchandise.The managing director of e-commerce at Rockford Corp. of Tempe, Ariz., wanted to get rid of his inventory of a device that streams digital content to home stereos.
So Mr. Carlsness turned to Woot.com. And in one day, he sold out the entire inventory of thousands of the devices at a steep discount. When Rockford first launched the product in the summer of 2003 it was priced around $800; it sold on Woot for $199. "We sold out in seven hours and 53 minutes," says Mr. Carlsness. "It was rather extraordinary."
Woot.com is indeed an anomaly in the e-commerce world. It sells just one product a day from one manufacturer, mainly closeout items on the cheap. A picture of the day's item is prominently displayed on the site's home page. The sale ends when the stock sells out or at 11:59 p.m., whichever comes first. These are products consumers have never seen in person -- or know much about at all. And with each day's sale launched at midnight Central Time, a product could sell out well before many people are even awake.
Posted by Dane on May 02, 2005 | 0 Comments
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