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new Yoox codes and sales - post them here - Page 216

post #3226 of 3592
Quote:
Originally Posted by harlemriver View Post

I see your point, but to be fair let's just recognize that most items on Yoox are discounted from what they would have been originally priced. Yes, as of late some items are popping up close to or above MSRP (depending on your country), but the overwhelming amount of stuff is often deeply or reasonably discounted. That is what robxznyc is suggesting.

We will have to find a happy medium with Yoox. Often times, people shopping on Yoox are upset that the items they want do not hang around until the rock bottom pricing kicks in. Well, not everything will stay around; more and more people are shopping on Yoox.  So while Jeremy wants that Caruso blazer at $350, Scott snapped the last one up at $475. Scott still wins because it would have cost him upwards of $2000 at retail.

Rob also makes a point that Yoox needs to make a good profit. It's a relatively new company after its merger with Porter (Porter having hardly ever made a profit) and for the business to thrive then they of course will want to make more money. 

New full-price online stores are coming to market, but none of them compete with Yoox (the discount site) in terms of breadth, price and diversity. I would much rather pay a little bit more and keep Yoox in the black as opposed to Yoox always underpricing and becoming insolvent. As far of off-price goes, the competition is in the doldrums because there of less inventory to go around; go look at Gilt and the paltry selections: Amazon just closed MyHabit: most department store outlets sell clothes that were specifically made for the outlet. For off-price, Yoox was and still is your best bet on Earth.

YNAP is now a company worth a market cap of 3bln euros. It is now even a constituent of the Italian stock market benchmark FTSE MIB. With that comes added scrutiny vis-à-vis quarterly earnings (and especially sales growth). YOOX after the merger has taken some steps like jacking up the starting price of items (in relation to MSRP); reducing the number of SUPERSTAR 20% promotions and of course removing the "New" items from any promotion for a period of a month.

Either, they are going for higher turnover (which I doubt) or increasing the profit per item.

With big data analytics involved in this kind of operation, they would have statistically significant results in a month or so. It would be interesting to see how they react to it. If they don't do anything, i.e. keep the current model, it will go to show that they are achieving the forecasted sales growth. If not, we'd see some changes back towards the old model...
post #3227 of 3592

Yoox has always made its pricing policy public - approx. half of the original price for past season products or supplier set price for current season products. I've learned that additionally Yoox will apply a coefficient reflecting each country's cost. I recently saw a new SS15 item on Yoox priced higher than its full price as the item was also available on the brand's online store. Since it contradicts what Yoox promised I contacted customer care and in the response they acknowledged the mistake and said they will reprice the item. I've heard many of you have noticed over priced products so if you can provide evidence I think it'll be a more constructive approach to inform Yoox such discrepancy and let them fix it.

 

If Yoox's strategy disregards its consumer's interest its financials will reflect customers' reactions. I can't see the difference between the demand for promotion and robbery. Prices are regulated by supply and demand, and as more people shop on Yoox the fewer great deals you'll see.


Edited by robxznyc - 5/9/16 at 12:58pm
post #3228 of 3592
Quote:
Originally Posted by San780 View Post

YNAP is now a company worth a market cap of 3bln euros. It is now even a constituent of the Italian stock market benchmark FTSE MIB. With that comes added scrutiny vis-à-vis quarterly earnings (and especially sales growth). YOOX after the merger has taken some steps like jacking up the starting price of items (in relation to MSRP); reducing the number of SUPERSTAR 20% promotions and of course removing the "New" items from any promotion for a period of a month.

Either, they are going for higher turnover (which I doubt) or increasing the profit per item.

With big data analytics involved in this kind of operation, they would have statistically significant results in a month or so. It would be interesting to see how they react to it. If they don't do anything, i.e. keep the current model, it will go to show that they are achieving the forecasted sales growth. If not, we'd see some changes back towards the old model...

Thank you.
Exactly, thats why I suggested giving them an incentive to move towards the old model.
My two cents I wont buy anything no matter how much Im interested in an product until its at least free for promotion codes. We all know what good prices are, they should not try to fool us. Furthermore I avoid the dreambox cause they monitor the demand for products so pricing is also influenced by that dreambox. Cheers
post #3229 of 3592
Quote:
Originally Posted by Understatement View Post

Thank you.
Exactly, thats why I suggested giving them an incentive to move towards the old model.
My two cents I wont buy anything no matter how much Im interested in an product until its at least free for promotion codes. We all know what good prices are, they should not try to fool us. Furthermore I avoid the dreambox cause they monitor the demand for products so pricing is also influenced by that dreambox. Cheers

That's exactly what I've been doing for the last couple of months, i.e. waiting until I could use a 20% off promotion code. The problem is that of twenty or so items that I had in my dreambox, I could only pick up two. There are a LOT of clients on YOOX now who would just pay the initial YOOX price right away, instead of waiting for a promotion. As "robxznyc" mentioned, it's all about supply and demand. As more people run after the same "arbitrage", the overall return on the trade goes down. The market is way too crowded now (on the client side of course). I wish I had known YOOX and threedifferent ten years ago...
post #3230 of 3592
Quote:
Originally Posted by 518aata View Post

Some good drops last night (US).

A few mediocre drops last night (now that the 20% coupon expired). Sigh
post #3231 of 3592
Quote:
Originally Posted by Understatement View Post

Thank you.
Exactly, thats why I suggested giving them an incentive to move towards the old model.
My two cents I wont buy anything no matter how much Im interested in an product until its at least free for promotion codes. We all know what good prices are, they should not try to fool us. Furthermore I avoid the dreambox cause they monitor the demand for products so pricing is also influenced by that dreambox. Cheers

Sales on the Yoox site alone were up 20% last quarter so it's just getting difficult. Yoox is no longer the best kept secret as it once was.

Their full price site, TheCorner, is closing at the end of the spring so hopefully there will be some blowout deals there. TheCorner merchandise is usually cheaper after markdowns than it is when it resurfaces on Yoox.

Not sure how you live without your dreambox - I couldn't and I'm always at capacity with 70 items. Avoiding the dreambox is also a double-edged sword: if many people have the same item in the dreambox, but no one is buying the item then they know to drop the price.
post #3232 of 3592

I think another tactic yoox uses is not releasing their entire inventory when prices are high...for example..I have seen alot of "new" products that are the "last one available" with a high price point.Lets be honest,, even if you really like a certain product you will not over spend if there are multiple items available...you will wait for it to drop..however you will overspend a bit if its the last one, because since its on yoox you will probably never see it again

post #3233 of 3592

I've observed and participated in this conversation since the beginning when a member suggested that we demand "new" items eligible for promotion and teach Yoox a lesson by a boycott. Without further dwelling on the discussion about Yoox pricing based on speculations and opinions subjective to individual perceptions, I wanted to remind the readers that:

  • the price at which a product is sold reflects the dynamic between supply and demand (@Understatement Yoox neither attempted nor could fool us, except fools) 
  • however, the demand within Yoox's economy only represents a fraction of the total demand, which gives rise to good deals
  • good deals attribute to information asymmetry among demands and their inconsistent perceptions of value (@Understatement maybe we all know what good prices are, but your good price is not necessarily another's good price)
  • Yoox as a business is responsible to not only fulfill its customers' demands today, but also obtain healthy profit to meet its investor's return requirement, provide its employees good compensation, offer brands needed cash flows, and reinvent itself to create more value in the long term
  • Yoox's promotion strategy may offend some customers but it doesn't affect Yoox's value to others

 

With all that said Yoox has become a gigantic player and its strategy will have impactful consequences in both new season and off season's market, making competition insignificant. When Yoox is the only place where certain demands can be fulfilled, within the context of the demands Yoox has become the monopoly. 

 

@harlemriver since Yoox owns theCorner, offering a closing sale seems unnecessary. Presumably Yoox will move the unsold products from theCorner quietly onto Yoox, priced higher than the potential bottom sale price.

 

Comparing to womenswear, menswear designs and styles are much less subjected to trends. When you often hear brand's designs reflect timeless, seasonless, classic styles, unaffected by trends, buying past season's clothes at a huge discount reflects men's cognitive styles. I think Yoox particularly appeals to fashion conscious men who are looking for tools to help them accomplish stylistic goals.  A study by Wharton marketing professor Stephan Hock, titled "Men Buy, Women Shop" is smart and telling. It suggests:

  • Why shop online: men are more oriented toward impersonal or individualistic goals, more task-oriented and focus on how well they are able to accomplish a task and find what they are looking for
  • Website types: men care more about functionality and are more likely to use a website as a tool
  • Attention: men tend to be more impulsive shoppers, care less for details

 

I think Yoox has gained a large loyal customer base because its price and product assortment are in a class of its own, which has a value that Yoox hasn't identified yet. I have an idea that's unprecedented for Yoox to capture this value while benefiting its members. :stirpot:

 

Lastly, as the thread is about Yoox code I'll offer a couple of tips (relevant in the US) if you didn't already know:

  • never need to pay for regular shipping. When you can't meet the minimum spending requirement for free shipping, you could share any product image to your hidden pinterest board to get a free shipping code
  • retailmenot.com is a reliable resource for working promo codes. When Yoox is not offering any promotion sometimes RMN has exclusive codes. It also reveals information most people don't notice, which is the end date for free shipping and site wide promotions (the start date of the next round of promotion, e.g. from 40% to 50% off). The end dates are provided by Yoox employees and I find them usually accurate over a period of 2 years

Edited by robxznyc - 5/15/16 at 1:47am
post #3234 of 3592
Quote:
Originally Posted by robxznyc View Post

I've observed and participated in this conversation since the beginning when a member suggested that we demand "new" items eligible for promotion and teach Yoox a lesson by a boycott. Without further dwelling on the discussion about Yoox pricing based on speculations and opinions subjective to individual perceptions, I wanted to remind the readers that:
  • the price at which a product is sold reflects the dynamic between supply and demand (@Understatement
     Yoox neither attempted nor could fool us, except fools) 
  • however, the demand within Yoox's economy only represents a fraction of the total demand, which gives rise to good deals
  • good deals attribute to information asymmetry among demands and their inconsistent perceptions of value (@Understatement
     maybe we all know what good prices are, but your good price is not necessarily another's good price)
  • Yoox as a business is responsible to not only fulfill its customers' demands today, but also obtain healthy profit to meet its investor's return requirement, provide its employees good compensation, offer brands needed cash flows, and reinvent itself to create more value in the long term
  • Yoox's promotion strategy may offend some customers but it doesn't affect Yoox's value to others

With all that said Yoox has become a gigantic player and its strategy will have impactful consequences in both new season and off season's market, making competition insignificant. When Yoox is the only place where certain demands can be fulfilled, within the context of the demands Yoox has become the monopoly. 

@harlemriver
 since Yoox owns theCorner, offering a closing sale seems unnecessary. Presumably Yoox will move the unsold products from theCorner quietly onto Yoox, priced higher than the potential bottom sale price.

Comparing to womenswear, menswear designs and styles are much less subjected to trends. When you often hear brand's designs reflect timeless, seasonless, classic styles, unaffected by trends, buying past season's clothes at a huge discount reflects men's cognitive styles. I think Yoox particularly appeals to fashion conscious men who are looking for tools to help them accomplish stylistic goals.  A study by Wharton marketing professor Stephan Hock, titled "Men Buy, Women Shop" is smart and telling. It suggests:
  • Why shop online: men are more oriented toward impersonal or individualistic goals
    , more task-oriented and focus on how well they are able to accomplish a task and find what they are looking for
  • Website types: men care more about functionality and are more likely to use a website as a tool
  • Attention: men tend to be more impulsive
     shoppers, care less for details

I think Yoox has gained a large loyal customer base because its price and product assortment are in a class of its own, which has a value that Yoox hasn't identified yet. I have an idea that's unprecedented for Yoox to capture this value while benefiting its members. stirpot.gif

Lastly, as the thread is about Yoox code I'll offer a couple of tips (relevant in the US) if you didn't already know:
  • never need to pay for regular shipping. When you can't meet the minimum spending requirement for free shipping, you could share any product image to your hidden pinterest board to get a free shipping code
  • retailmenot.com is a reliable resource for working promo codes. When Yoox is not offering any promotion sometimes RMN has exclusive codes. It also reveals information most people don't notice, which is the end date for free shipping and site wide promotions (the start date of the next round of promotion, e.g. from 40% to 50% off). The end dates are provided by Yoox employees and I find them usually accurate over a period of 2 years


Not to be that guy, but in the paragraph @ me you regurgitated exactly what I already said. TheCorner often hits 80% off, which is a "blowout" deal for all intents and purposes as I suggested. In fact, I've even gotten some items closer to 90% off. I also noted items would most likely resurface on Yoox above the last asking price on TheCorner.

Since you addressed me, where is your value add for me?
post #3235 of 3592

@harlemriver Please PM me if you have an issue that I addressed you in my note as it's off topic. The forum is a place for a free flowing exchange of ideas and I don't appreciate hostile and passive aggressive comments made towards me. I addressed you as I doubt about a blowout sale on theCorner that you speculated upon its closing, and to indicate other readers that my comment referred to your statement. It's an etiquette I consider appropriate and respectful. 

post #3236 of 3592
Quote:
Originally Posted by robxznyc View Post
 

@harlemriver Please PM me if you have an issue that I addressed you in my note as it's off topic. The forum is a place for a free flowing exchange of ideas and I don't appreciate hostile and passive aggressive comments made towards me. I addressed you as I doubt about a blowout sale on theCorner that you speculated upon its closing, and to indicate other readers that my comment referred to your statement. It's an etiquette I consider appropriate and respectful. 

Who was hostile and passive aggressive towards you? I didnt see any comments that fit that description. Maybe you have a better perspective from your incredibly high horse... I hope you find this post appropriate and respectful.

 

 

P.S. Maybe you should spend a little more time here before you start preaching to people about how you think they should behave.

post #3237 of 3592
Ok guys, call off the dogs.
post #3238 of 3592

@bdavro23 there's a difference between making comments about my language style for the sake of the forum and for the sake of personal embarrassment. 

 

English is not my first language and I'm sure my own culture also affects my writing style. But it's clear my intention is to share information. If anything offended you it's not intended and I can correct it if you explain. 

post #3239 of 3592
Guys, are clearance items always final sale? Do prices get lower at all or is an additional 20% off coupon about as good as it gets?
post #3240 of 3592

@Froosh from what I've seen in the last couple of years clearance items are all final sale. Yoox usually rotates the clearance section twice a year to move the off-season items off of the main sale section and also serve the purpose of price retention. When Yoox begins winter sales later this year many items in clearance will be moved back and become returnable. 

 

Another tip relevant in the US: Jet.com has access to certain inventory on Yoox. Right now it reflects the clearance section. Coupons on Jet.com are applicable to all these clearance items, plus if you opt for waive return you get additional discount. It's standard Yoox package with return label. So I suppose if you order from jet.com you can return them and depending on whether you chose to waive return you might pay a small fee. 

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