The Countdown Begins With Internet Retailer Deal.com
New Berlin, WI – November 19, 2004 – Deal.com, an Internet retail site offering brand name products for discount prices, will be officially launching Daily Deal Monday November 22, 2004.
Daily Deal features one item and 96 prices which decrease every 15 minutes over the course of a day. Starting every day at Midnight EST the Daily Deal begins selling one product for 24 hours. The price starts at the original MSRP and drops every 15 minutes by 1/96 of the original price until it sells out, or becomes free at 11:45 PM EST. With the whole process starting over with a new item at Midnight.
Over the last two weeks, this concept has been in beta testing and will officially go live Monday November 22, 2004 on Deal.com. The viral nature of this concept is assisted by leveraging RSS (Really Simple Syndication) technology to get the word out. A special `Community` section was created just for this new concept which allows customers to discuss the product, the pricing, and generally voice their opinions, both good and bad.
Deal.com has created an exciting “thrill of the hunt” aspect for people. Jalem Getz, President of BuySeasons Inc., parent company of Deal.com, said, “We’ve been very surprised at the response.”
Unlike the traditional auction format in which customers bid the price up and against each other, the Daily Deal is a waiting game which results in many winners as they wait for the product to hit their `strike` price. By limiting purchases to one item per order and not disclosing the inventory levels there is constant anticipation of “when will the item sell out?” Unfortunately for some, if they wait too long they will go empty handed. The Daily Deal has created a lot of excitement every day, and, so far, has always sold out before the Daily Deal becomes free.
Beta products and their closing and opening prices:
Mustek Digital Camera MDC4000, $57.89, $249.99
Cuisinart Duet Blender/Food Processor BFD703CHFR, $18.95, $120
American Dream 240-TC Down Comforter & Pillow Set, $32.02, $169
International Silver Tenninson 100-pc. Flatware Set, $20.84, $180
Cuisinart 12-Cup Coffeemaker Model No. DCC-1200FR, $22.11, $150
ESQ Men’s Watch 0730071, $51.32, $275
Waring Health Juice Extractor Model: JEX328FR, $18.52, $92.95
Jalem Getz
President
262.901.2000 X116
Jalem@buyseasons.com
Laurie Pizur
Marketing Specialist
262.901.2000 X104
laurie@buyseasons.com
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