Woot!

Woot! Stands for " I Want One Of Those"

Woot! is probably the best example of the power of the internet that I have found for consumer products. It is also the perfect example of the power of economies of scale. For those of you who do not know here is a little about Woot!

Woot! is a website that offers only one product every day at Midnight for discounted price. They give pictures, descriptions, even a clever blog that talks about the product. Most of these products have some kind of technical theme. I have seen everything from headphones to padlocks listed. Every day it is some new surprise.

In regard to price, I have checked around and it is almost always the best deal going no matter what product. How can they do this? Volume. Their economies of scale are phenomenal. Every day there is a different market and a different consumer base that is attracted to that market. Products that seem to have no real place anywhere else fly off of the shelves of Woot. Some of these products are sold out before I get to work at 8:00AM.

They are also very clever in the information that they give out. You never know exactly how many they have in stock, but they do have histogram graphs letting you know how man people purchased this product and at what time.

I am not sure if this was intentional but Woot! has built this off of the QVC phenomenon we are all so familiar with. QVC sells one product for a limited period of time, and they have written the book on television sales. Not only do you get to view the product, learn a little bit about it, but it is also entertaining. Woot! has captured all three of these aspects.

What is next...Woot! TV?

Stay tuned to find out.