Defying economics: Woot!
Woot! is an awesome Web site that sells electronics that will get you itching for your wallet . This Web site features one deal each day, and the prices are some of the best online. While the main Woot! features a new gadget each day, there is also a wine Woot! and a t-shirt Woot! with shirts that cost $10 after shipping.
Really, the operation is perfect. There are consumer comments so you know what other users think of the product, a product description, buying statistics that track how many items users buy and what states these buyer are from, and the shipping prices are fair. Everday the Web site showcases a new product, and when Woot! runs out of that item, there's no rain check. Sometimes Woot! has mystery bags too. The Web site is an impulse shopper's nightmare.
And Woot! knows that. Today I received an enlightening email from the Woot! team. They emailed users and told them not to spend recklessly this holiday season. Amazing. Here's part of the email I received:
"When we go over a cliff, it's because of our own poor judgment, not someone else's. That's been our credo since about five minutes ago, when we first thought of it. And we've stayed true to it ever since.
That's why we're encouraging you and your fellow wooters to save this holiday season. Save your money! Save until you pull a saving muscle. Horde your money until you are literally choking on it. Save until maybe, like, mid-February or so, when the market will be a-glut with great deals for the taking every day."
It's just so beautiful. This goes against everything I learned in economics class, but saving is a lesson that has to be learned by countless people who already live beyond their means. When the economy is in recession, companies give more incentives for people to spend, not discourage it.
One could argue that the Woot! creators just wrote this email as a stunt to get the Web site more attention, and if that's true, they succeeded. Still, I have hope that they really want people to weather this economic whirlwind, as I'm sure the Web site will. Hopefully, I didn't create more Woot! addicts with this blog, but I wish upon a star that readers will heed the words of the Web site's creators while they browse this wonderful Web site and go about their holiday shopping.
For Feburary:
http://www.woot.com/
Really, the operation is perfect. There are consumer comments so you know what other users think of the product, a product description, buying statistics that track how many items users buy and what states these buyer are from, and the shipping prices are fair. Everday the Web site showcases a new product, and when Woot! runs out of that item, there's no rain check. Sometimes Woot! has mystery bags too. The Web site is an impulse shopper's nightmare.
And Woot! knows that. Today I received an enlightening email from the Woot! team. They emailed users and told them not to spend recklessly this holiday season. Amazing. Here's part of the email I received:
"When we go over a cliff, it's because of our own poor judgment, not someone else's. That's been our credo since about five minutes ago, when we first thought of it. And we've stayed true to it ever since.
That's why we're encouraging you and your fellow wooters to save this holiday season. Save your money! Save until you pull a saving muscle. Horde your money until you are literally choking on it. Save until maybe, like, mid-February or so, when the market will be a-glut with great deals for the taking every day."
It's just so beautiful. This goes against everything I learned in economics class, but saving is a lesson that has to be learned by countless people who already live beyond their means. When the economy is in recession, companies give more incentives for people to spend, not discourage it.
One could argue that the Woot! creators just wrote this email as a stunt to get the Web site more attention, and if that's true, they succeeded. Still, I have hope that they really want people to weather this economic whirlwind, as I'm sure the Web site will. Hopefully, I didn't create more Woot! addicts with this blog, but I wish upon a star that readers will heed the words of the Web site's creators while they browse this wonderful Web site and go about their holiday shopping.
For Feburary:
http://www.woot.com/
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