Internet discount websites are mushrooming, exploiting the business opportunities presented by online shoppers eager to bag themselves a bargain. One such discount site is Woot, a US-based internet retailer.
How does Woot work?
As their tagline, One Day, One Deal suggests, Woot offers just one discounted deal per day. Says Woot, they release a new product deal every day at 12 am (US Central Time). This discounted deal runs for a 24-hour period, until expiration at 11:59 (US Central Time).
Woot works on the principle of exclusivity – there are no backorders, few repeat deals and a maximum number of three units per customer. If the product on offer that day sells out before the conclusion of the 24-hour period, Woot simply posts a Sold Out banner on the site’s home page. If you don’t get your hands on the offer of the day, says Woot, too bad, so sad!
Sometimes, and without warning, Woot deviates from its one deal-per-day strategy with a Woot Off. Woot describes a Woot Off as a ‘short term frenzied mutation of [their] product posting procedure’. During a Woot Off, the discount site offers a new product deal immediately after the previous deal is sold out.
While daily discount sites like Woot, and rival discount sites Groupon and Ubuntudeal, offer deals on all sorts of products and services, from electrical appliances and computer software to clothing and haircuts, discount sites exclusively targeting niche markets are starting to pop up. If you’re looking to develop an online startup, perhaps there’s a niche out there with your name on it?
For more inspiration…
Check out these niche daily discount websites:
- Momsdeals – for South African moms
- SaleWine – for South African wine lovers
- Save On Crafts – for crafters.
- Image Coutesy of Woot
