Woot.com - Selling to Geeks
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Case Details:
Case Code : MKTG223
Case Length : 15 Pages
Period : 2007-2008
Pub Date : 2009
Teaching Note :Not Available
Organization : Woot, Inc.
Industry : Online retailing,
Electronics
Themes: Business Models /
Strategic Marketing /
Online Consumer Behavior
Countries : US
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"As a wholesaler, I saw a niche. The product life cycle is so short today. Everybody's chasing that leading edge, but there's an awful lot of opportunity in the trailing edge."1
- Matt Rutledge, the Founder and CEO of Woot Inc., in 2008.
"It's kind of like eBay meets Wal-Mart. This [Woot] will revolutionize what more traditional websites do."2
-Dan Noyes, the President of Zephoria Inc., an Internet marketing firm in 2004.
Introduction
In May 2009, for the second straight year, Woot.com (Woot) was voted as one of the best Web 2.03 sites in the commerce category, in the Webware 100 award program. The Webware 1004, denoting the top Web 2.0 sites and services in 10 categories were chosen by Webware readers and users of Web 2.0 apps and services, from around the world.
Woot, which was set up in 2004 by Matt Rutledge (Rutledge) initially to get rid of the unsold inventory from his electronics distribution business, had a unique business model called 'One Day, One Deal'.
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Each day, the site offered just one discounted product - like a computer hardware item or an electronic gadget - for sale. The offer opened at midnight, and ended the next day at midnight. No other products were offered for sale, even if the product on offer was completely sold out during the day.
Woot mostly sold products that had been refurbished, were outdated, or remained as surplus with manufacturers. It also had several other features that made it different from other online retailers.
Woot used a humorous, irreverent, and honest style of writing to describe the products on offer, to make the site more appealing to its target demographic of young Internet savvy people, who enjoyed humor and appreciated candor. However, the company did not provide most of the customer support services typically provided by other popular online retailers.
Woot.com - Selling to Geeks
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