Sun 8 Nov 2009
Tough economy meets elevated retailer expectations meets Holiday volume period. The annual game is on, and this year, online retailers are getting all woot.com, the Dallas-based company that created a cult following around the one-a-day deal. We have mentioned how we like what Woot does and how they do it, and now the big dogs are taking notes. From The Dallas Morning News (full article here):
Countdown clocks are ticking all over the Internet with deeply discounted 24-hour deals this year.
J.C. Penney Co. has added a "daily deal" to jcp.com, and Target.com has one-day-only "daily deals." Penney created screenbusters, playing off the brick-and-mortar world’s doorbusters.
Walmart.com calls its urgent deal the "value of the day" and offers several online-only specials "while supplies last."
Plano-based Dealtaker.com, an online coupon site, recently launched Newatnoon.com to feature 24-hour specials from retailers looking for more of a multi-channel reach. It recently featured 24-hour deals from Gordon’s Jewelry, Overstock.com, Kohl’s, Penney, Aeropostale, buy.com and others that have Web sites but want a bigger reach online.
The 24-hour concept is similar to that popularized by Dallas-based Woot.com, a Web site that offers one-day deals. But Woot also has branched out to offer limited-time discounts from other retailers. On Friday, it featured a $15 men’s waterproof, quilted puffer vest from Macy’s.
Consumers aren’t parting with their dollars like they once did (way way back when, it seems). And the brands that will capture their attention are ones that go beyond a transaction and into a memorable experience. Deal-a-day brings a little suprise and delight (and urgency) worth talking about to the shopping process. It worked for Woot, and now other retailers are hoping for a little Holiday magic of their own.
Lesson to all marketers: How can we get beyond the transaction and add a little value to the experience our brands can offer?