The Shopping Extravaganza for the Next Generation
Dec 10th, 2009 by admin
Pretty surprising that even before launching, Lockerz has been able to generate so much buzz with Google, YouTube & Co. But this is exactly how it should be when someone launches with a really exciting new sales concept which cleverly combines live shopping and entertainment elements:
Picture of Lockerz: The Shopping Extravaganza for the Next Generation [source:excitingcommerce.com]
"Lockerz is the place to go to buy the coolest stuff at the lowest prices, watch exclusive video, discover new music, play the hottest games, hang out with your friends - and get rewarded for just about EVERYTHING you do on the site.
Our mission is to be your daily habit, not a site for your parents or grandparents looking for their long-lost friends from Kindergarten."
Lockerz is the next coup from Liberty Interactive, a home shopping and e-commerce conglomerate who also happen to maintain a majority stake in live shopping leaders such as QVC or Backcountry.
After several acquisitions in recent time, this time it is a start up:
"Lockerz aims to be the destination for generation Z where commerce, content, and community converge."
Liberty CEO Greg Maffei didnt say much about Lockerz at the last quarterly results presentation - only that he wants to continue exploring shopping concepts which link well to a fan community:
"On acquisition opportunities, we have been pretty much constantly looking for eCommerce opportunities. The last four years, we found four decent sized acquisitions and the couple or three tuck-ins that have worked well into those.
Because that has been difficult and if you look at the universe of eCommerce companies, pure eCommerce company, certainly thats not a huge universe between $50 million and say $5 billion a market cap and particularly ones that we would find attractively strong management teams, define niches, (inaudible) advantages in their business model and protections around Warren Buffett mode type things.
Those are not, at time it does and in particularly when you want a reasonable price. There has been a whole change obviously in the blending kind of a content commerce and community that have only made some of that harder because a lot of those have had very large multiples and have more speculative business models.
That having been said, we continue to look and we remain bullish on some opportunities and weve also taken a couple of tracks like Right Start when we purchase something out of bankruptcy or LOCKERZ where we funded an entrepreneur a little more venture capital type opportunity to try and create a wholesale version of something like that rather than buying at retail."
Lockerz is a shopping extravaganza for the next generation and combines many live shopping and community elements which have been expounded upon lately here at Exciting Commerce. In particular, proprietary currencies:
"One other thing you'll love about Lockerz are PTZ (or "Pointz"). PTZ are Lockerz' proprietary loyalty "currency" that you earn whenever you buy, watch, play, share, invite friends, or even just show up on Lockerz. Redeem PTZ at the PTZ Place for incredible prizes, great products and dream experiences."
At the moment, Lockerz is battling with systems and processes to keep up with the continuous stampede of users. And moreover the copious number of freeloaders who are diligently collecting login data.
The best approach is to keep up to date on Twitter. The CEO Kathy Savitt can be found there, who formerly worked for Amazon and American Eagle Outfitters.
The concept in laymans terms to be found in the FAQ.
The Shop Exchange: QVC Parent Takes Over BabyStyles/TheRightStart Backcountry Launches Sixth Live Shopping Spinoff Backcountry Launches Chainlove, Its Third One Deal at a Time Site
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.[source:excitingcommerce.com]
Related posts: