In the past few months, here are three shirts that would've sold out even if the 5k cap was in place:
The Cheese is a Liederkranz
At those same sales rate, Cheese would've lasted to 2:40am CST, Ninja to 5:50pm, Taste to 1:35pm.
That still leaves nearly 38 hours (out of 72 hours total) without a shirt to sell on the main site. So would anyone really have benefited in such a case?
I really don't think so. For those three shirts, even if only half buys at $12 vs. $10, that would've been another 8400 sales and $92,400 in net revenue to Woot (and $8400 to the artists).
With the 5k cap at the $10 price, it would have only netted 6000 more sales, and $60,000 in additional revenue. Lose for Woot, lose for the artist, lose for the customers still left seeing a sold out sign for 38 hours. That really doesn't help now, does it?
Ditch the sales cap completely, don't promise the same day printing and shipping for the SnailPost customers, graduate the pricing on debut day, and graduate the compensation for the artist. Woot wins with higher revenues throughout the entire day, artists win with higher compensation, and the late customers still win by being able to buy anytime on debut day instead of having to pay $15 the next day.
Besides, if an artist knows they can make a lot more for having over 4k, 5k, or more shirts sold, you know they're going to be plugging shirt.woot with even more effort anywhere, everywhere, and at every single chance they get! And isn't increasing sales the goal here?
mrwednesday wrote:However, snapster also told us that selling as many as possible day one is best for woot tells us two things. One, they lose potential sales from disinterest or price after the first day (how many is going to vary greatly from shirt to shirt), and two it's better to not have to pay the artists.
I've mentioned point #1 in the Poison thread (I think). Not everyone who would have bought at $10 would come back and buy at $15, so indeed there can be lost revenues. Point #2 - that's our beef. Woot's growth should NOT be at the expense of the artist, because without the artist, the shirt is nothing but a blank. And there's no way shirt.woot is going to sustain itself selling whatever-shirt-color space.
If an artist made a great design, reward them as such. If their design wasn't so popular, it's reasonable to deduct their compensation too.
And just so you know, Snapster, I do appreciate you taking the time to address our concerns. Again, if you need to categorize where I stand in all this, my suggestions and opinions are coming as the perspective of a customer that tends to over-analyze things.