New Coupon Site Created for Digital & Virtual Goods
With the explosion of digital goods, it was only a matter of time until a coupon site was created exclusively for digital deals. Stampede.It has launched a deal site in the manner of social coupon giants Groupon and Social Living.
Just three months in the making, the idea came about when two brothers both wanted to buy the same mobile app, Justin Groden, Stampede.It's founder, told TechNewsDaily.
Deals on digital goods at Stampede.It are based on a "tipping point" system where the value of the deal rises with the number of buyers. For instance, today's inaugural deal for tournament play on SkillAddiction.com is tiered: At 15 buyers, it's $15 for $20 worth of gaming; at 50 buyers the deal tips to $10 for $20; and at 100 buyers, the deal gets even better with a month of VIP access on top of the previous level.
Initially, Stampede.It plans to offer a new deal every three or four days, but hopes to ramp up to a deal a day in the coming months, Groden said. Next up will be a deal on Let's Crate, "ridiculously easy file-sharing" in the cloud.
While it has a way to go to reach Groupon and Living Social's combined revenue projection of $2.7 billion this year, forecasted by research firm BIA/Kelsey, focusing on digital goods eliminates one big problem that has plagued the general social coupon sites: Businesses can be overwhelmed with demand from a successful social buying coupon.
Participating in Groupon was called "the single worst decision I have ever made as a business owner" by a Portland florist in her blog after she lost $8,000 on a Groupon deal.
Poor planning? Perhaps, but the owners of digital goods will never wrestle with running out of inventory ― their goods are infinitely scalable.
"There are no costs of goods sold," Groden said, and that bodes well for Stampede.It.
Is paying full retail for anything ― flowers, manicures or a Farmville mansion ― becoming obsolete? Groden says no. Social deals are being used to hook new customers with the intent that they'll become regular customers.
"I love deals, but it's got to be timely and something I really want," Groden said. Good advice for impulse shoppers everywhere, online or on the street.
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