fired everyone in these departments today.
It will now be selling just computer hardware and electronics.
Its a bloodbath out there.
It will now be selling just computer hardware and electronics.
Its a bloodbath out there.
Buy.com get out of book, dvd, sports etc sales
- Thread starter CentralScrutinizer
- Start date
Why would there be a blowout sale? They don't carry any
inventory. Like almost everyone except Amazon, eToys, Barnes
& Noble and a few others, they're just resellers.
Which is why these places will never make a dime. If you're
buying from the same middlemen as everyone else, how can
you sell it for less, unless you're taking a bigger loss.
The concept of sticky eyeballs and ad-based revenues doesn't
work...
Kwad
inventory. Like almost everyone except Amazon, eToys, Barnes
& Noble and a few others, they're just resellers.
Which is why these places will never make a dime. If you're
buying from the same middlemen as everyone else, how can
you sell it for less, unless you're taking a bigger loss.
The concept of sticky eyeballs and ad-based revenues doesn't
work...
Kwad
Yes, I smell blood. FEEDING FRENZY. For the Accountants. Good Point Kwad. Common sense isn't applied to the Dot.Com business profile.
Here's the press release, 2/1/01 press release
from today. Says that they reduced the staff by 25. Here's one of their strategic initiatives:
<< Focus on High Contribution Product Categories. buy.com's historical
strength lies in its technology and consumer electronics categories.
In 2001, buy.com will focus its resources on core categories including
computer, software, consumer electronics, wireless and clearance,
which we believe have greater potential to drive the business to
positive operating cash flow than the company's non-core categories.
The order economics of these categories are superior to those
generated by the entertainment stores, based on factors such as
average order size, fulfillment and shipping and handling
efficiencies, etc.
>>
Just because the "order economics" are superior than the entertainment stores hopefully doesn't mean they're dumping them. I guess it could be a nice way of saying that though. Sad, sad day.
from today. Says that they reduced the staff by 25. Here's one of their strategic initiatives:
<< Focus on High Contribution Product Categories. buy.com's historical
strength lies in its technology and consumer electronics categories.
In 2001, buy.com will focus its resources on core categories including
computer, software, consumer electronics, wireless and clearance,
which we believe have greater potential to drive the business to
positive operating cash flow than the company's non-core categories.
The order economics of these categories are superior to those
generated by the entertainment stores, based on factors such as
average order size, fulfillment and shipping and handling
efficiencies, etc.
>>
Just because the "order economics" are superior than the entertainment stores hopefully doesn't mean they're dumping them. I guess it could be a nice way of saying that though. Sad, sad day.
They are also closing the Canada store! I always bought from them cus of the really cheap pricing, but they are cutting back so much, I am afraid they will close soon.
I read earlier that they were cutting back on worldwide ops and concentrating on the core stuff. They'll also be doing DVDs, books, etc. but not at the cost of being the lowest price anywhere.
First-day ECON101 dictates that you gotta make money or you're out of business. Too many people try to gank these stores and then scream about them going out of business. Too bad.
First-day ECON101 dictates that you gotta make money or you're out of business. Too many people try to gank these stores and then scream about them going out of business. Too bad.
Did somebody say something about a Hitachi Superscan 19" monitor? Buy.com, btw, is paying out the $695,000.00 class action settlement this month. Interesting timing, eh?
Son of a bitch...I have like 15 dvds preordered there. Jeez...they took over business for Reel.com when they went under...and god, ahhh. Can't take it anymore...
<stoney plummits to his death from his 4'th floor balcany>
<stoney plummits to his death from his 4'th floor balcany>
like the E-trade commercial, INVEST WISELY...that kommercial was hilarious for mocking fun of all the dot.com...that was the most memeroable kommericial during the super bowl..
Central, get your stuff straight.
Their latest news release says they'll still sell these products, just not as the deep discount level they fought to maintain thus far.
Don't shout "fire", until you actually SEE the flames.
Definately NOT a hot deal.
Their latest news release says they'll still sell these products, just not as the deep discount level they fought to maintain thus far.
Don't shout "fire", until you actually SEE the flames.
Definately NOT a hot deal.
Here is the article on buy.com's plan.
http://dailynews.yahoo.com/h/nm/20010201/wr/buycom_earns_dc_3.html
...It has also laid off 25 employees, or about 10 percent of its staff, and said it will slash its marketing expenses so that it only aggressively promotes the products in its core merchandise categories like computer hardware, software and consumer electronics.
He said Buy.com will continue to offer books, CDs, videos and sports equipment but will no longer seek to be a leader in all these categories at any cost. ...
http://dailynews.yahoo.com/h/nm/20010201/wr/buycom_earns_dc_3.html
...It has also laid off 25 employees, or about 10 percent of its staff, and said it will slash its marketing expenses so that it only aggressively promotes the products in its core merchandise categories like computer hardware, software and consumer electronics.
He said Buy.com will continue to offer books, CDs, videos and sports equipment but will no longer seek to be a leader in all these categories at any cost. ...
Snagged this from Videotropic - may be good news!
Buy.com assurance: Many people have been writing us for denial or confirmation on the rumor that Buy.com is getting out of the DVD business. Here's the final word: they are not. There is a popular misreading of yesterday's Q4 results and conference call in which Greg Hawkins outlined his extraordinary plans to tighten Buy's balance sheet (plans which have included a 10% layoff and dropping their international sites in order to focus on their core business; their Canadian site will close today). Although it is subject to small margins and is not a core business line, the entertainment stores (DVDs, CDs, etc.) will remain with Buy.com; their lower buy-in prices, though not directly contributing in any significant way to profitability, encourage first-time buyers whom Buy.com would like to move to make purchases at their higher-profitability stores (computer hardware and software, consumer electronics, and wireless). Marketing costs directed at the entertainment stores will be slashed, which may translate into fewer promotions -- although Hawkins has recently said that coupons and similar promos are effective and Buy.com is still committed to them. There are changes coming soon in Buy.com's coupons (scheduled during the traditionally slow Q1), and it is these changes -- unrelated to yesterday's news -- which are the reason for their relative absence in the past month. When the promotions return, like Amazon we will likely see a drive towards larger minimum orders (e.g., more $30-off-$150s than $10-off-$50s; the same percentage discount, just a larger minimum). As we have done in the past, we encourage people to continue purchasing from Buy.com (and trying them out, if you've never purchased from them before). In the past 3-1/2 years they have proven their committment to the industry, and their success -- and continuation -- should be encouraged by those who care about keeping online DVD prices low.
Buy.com assurance: Many people have been writing us for denial or confirmation on the rumor that Buy.com is getting out of the DVD business. Here's the final word: they are not. There is a popular misreading of yesterday's Q4 results and conference call in which Greg Hawkins outlined his extraordinary plans to tighten Buy's balance sheet (plans which have included a 10% layoff and dropping their international sites in order to focus on their core business; their Canadian site will close today). Although it is subject to small margins and is not a core business line, the entertainment stores (DVDs, CDs, etc.) will remain with Buy.com; their lower buy-in prices, though not directly contributing in any significant way to profitability, encourage first-time buyers whom Buy.com would like to move to make purchases at their higher-profitability stores (computer hardware and software, consumer electronics, and wireless). Marketing costs directed at the entertainment stores will be slashed, which may translate into fewer promotions -- although Hawkins has recently said that coupons and similar promos are effective and Buy.com is still committed to them. There are changes coming soon in Buy.com's coupons (scheduled during the traditionally slow Q1), and it is these changes -- unrelated to yesterday's news -- which are the reason for their relative absence in the past month. When the promotions return, like Amazon we will likely see a drive towards larger minimum orders (e.g., more $30-off-$150s than $10-off-$50s; the same percentage discount, just a larger minimum). As we have done in the past, we encourage people to continue purchasing from Buy.com (and trying them out, if you've never purchased from them before). In the past 3-1/2 years they have proven their committment to the industry, and their success -- and continuation -- should be encouraged by those who care about keeping online DVD prices low.
Didn't even know they sold ski jackets. So I check their prices. Not bad except they charge $54.99 for standard ground shipping on a $130 jacket. It also says,"This item can only be shipped ground, due to weight". They charge $44 for ground shipping on a 21" monitor.
i think buy.com is a good "store" even if they don't have coupons and such a lot of their prices are reasonable and think the move they are making does make a lot of sense.
another thing, the service they give is excellent in my opinion and when I order something from them i have no fears at all about the quality of products that i'm receiving.
i'm just sorry a lot of people have taken advantage of buy.com......(not referring to using coupons multiple times and such, but other things)
anyways, not poking at anybody, just IMHO.
another thing, the service they give is excellent in my opinion and when I order something from them i have no fears at all about the quality of products that i'm receiving.
i'm just sorry a lot of people have taken advantage of buy.com......(not referring to using coupons multiple times and such, but other things)
anyways, not poking at anybody, just IMHO.
I've bought quite a bit from buy.com and never really had a problem until recently when I bought $200 worth of ram... one email later, the problem was fixed.
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