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Want A Front Row Seat To Watch a Train Wreck?

Discussion in 'Sales, Marketing, Copywriting, Social Media' started by Vigilante, Jan 21, 2013.

  1. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I am calling it early. Buy.com will be dead by 2014. You heard it here first, folks.

    Here are my two facts that lead to this conclusion.

    1. Their answer to their crappy sales? Start charging their marketplace vendors quarterly subscription fees in addition to their sales commissions. Not fix their crappy sales --- charge their vendors to compensate for their crappy sales. Um...pass.

    but 10x more importantly than that, they are

    2. Dropping the Buy.com name and address. What could they have gone to that is more significant, impactful, and screams retail more than the domain name Buy.com, you ask?

    Rakuten.com.

    Ahahahahahaha.

    Ass clowns. Probably MBA's. 2014. Write it in pen. This once high flying company will be in the retail grave yard by 2014.


    8 people like this.
  2. AgonI
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    AgonI 20 kph

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    Nice, will be waiting for the day with 70% off their best selling products to resell them :)
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  3. Tommy92l
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    Tommy92l 60 kph Read The Millionaire Fastlane Speedway Pass

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    Is there anyway to profit from this ?
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  4. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    To AgonI's point, eventually there will be a liquidation event. The buy.com domain name has serious equity, but that will probably be lost in the (eventual) bankruptcy to the largest debtor(s). However, when retailers start their death spiral, there will be inventory sold below cost for a while to try and meet finance demands.
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  5. nzerinto
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    nzerinto 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Seems quite a number of Japanese companies buying out major US firms recently....ie Softbank's purchase of Sprint is another example.
    But you are right - not seeing the sense in this particular rebranding....
  6. JScott
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    JScott 140 kph Speedway Pass

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    They were purchased by Rakuten about 2 years ago...Rakuten as a conglomerate is MUCH bigger than Buy.com ever was, and they're using Buy.com to round out their global presence (Rakuten has purchased some of the largest online retailers around the world in recent years).

    Rakuten's parent company has a $13B market cap... I think it's safe to say that Rakuten.com will not be out of business in 2014.

    Actually, both the CEO and COO are attorneys.
    2 people like this.
  7. AllenCrawley
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    AllenCrawley Rise & Grind Staff Member FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I'm surprised they waited this long to change the name. They bought them in 2010 ($250M). The article I read said the change of name is because they believe it is necessary "to establish the Japanese brand internationally". Hmmm... now are the getting rid of the buy.com name completely (selling it) or are they going to automatically forward to the new domain name. Nevertheless, it doesn't yet make sense.
  8. oddball
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    oddball 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Buy.com had an 8.07% growth rate in 2011, selling about $805 million. Not sure about 2012 numbers but they seem strong still.
  9. AllenCrawley
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    AllenCrawley Rise & Grind Staff Member FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I'm curious about this so I'll look into some more but I wonder have any of them been as large as buy.com and did they also change the name of those?
  10. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Sigh. Here we go again.

    Actually,

    Chairman and CEO
    Hiroshi Mikitani
    Mr. Mikitani received his MBA from Harvard Business School.

    Director and Vice President Executive Officer
    Atsushi Kunishige
    Mr. Kunishige received his MBA from Massachusetts Institute of Technology.

    CFO
    Ken Takayama
    Mr. Takayama holds an MBA from the University of Texas at Austin.

    Senior Executive Officer and Director
    Kazunori Takeda
    Mr. Takeda holds an MBA from Harvard Business School.

    Senior Executive Officer and Director
    Yoshihisa Yamada
    Mr. Yamada holds an MBA from Harvard Business School.

    Your Wikipedia search caused me to do three minutes worth of research to correct you that I will never get back.
    3 people like this.
  11. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I'm sure they will redirect the buy.com traffic to their new domain name, but the buy.com name will be mothballed.

    Someone missed the fact that Americans would rather buy from buy.com than from a Japanese company that wants their Japanese brand to become important in the United States.

    Buy.com was all about the domain name. Aside from that, their site isn't that great. Never has been. They just won the race to the domain registrar.
  12. Kak
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    Kak 280 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    They sure pissed away hundreds of millions in brand building over the years just to change the name to rabguptartfi.com
    2 people like this.
  13. AllenCrawley
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    AllenCrawley Rise & Grind Staff Member FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I've never been impressed with buy.com. Never bought anything from them.
  14. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Lol true
  15. theag
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    theag 170 kph Read The Millionaire Fastlane Speedway Pass

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    This. I mean, seriously, how can you make a decision like that? I'm not living in the U.S. so I never used or even thought about using buy.com, but from what I read here, in other articles, etc, they had it hard enough before this decision (competition vs amazon mainly). Really stupid.

    We actually had a similar situation in Germany a few years ago where Rakuten bought a German company similar to buy.com and shortly after changed the name to rakuten.de. I don't remember the name of the company or how it all turned out, but will check it and report back.

    Edit: It was called tradoria before so they didn't kill so much domain equity as with buy.com. They also renamed quickly after the takeover. Don't have time to research how the business developed compared to before the takeover, but I guess in the german case it actually improved.

    Here's a infographic that kinda describes their philosophy pretty good:

    ds_rakuten.jpg
  16. SeanKelly
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    SeanKelly 100 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    This may prove to be an ignorant statement, but I'm not sure I'd like to empower Japan.
  17. Kak
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    Kak 280 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Why the protectionist views? I guarantee that you own many things made in Japan. I am going to buy the best product for my money. Asian countries make better cars than the US for example. Why would I buy a Chevy when I can get a Toyota or Nissan?
  18. AllenCrawley
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    AllenCrawley Rise & Grind Staff Member FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Have you seen the new 2014 Corvette Stingray? Oh my.
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  19. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Finally, you and I have something to spar about. The mere fact that they make things cheaper does not mean that they make things better.
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  20. theag
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    theag 170 kph Read The Millionaire Fastlane Speedway Pass

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    That has nothing to do with throwing away the buy.com brand..
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  21. SeanKelly
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    SeanKelly 100 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I agree 100%. Even if they're products and innovations were truly better than that of the United States, I would support my country to my best ability in order to be better than them.
  22. JScott
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    JScott 140 kph Speedway Pass

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    Wait, you were talking about Buy.com (the subsidiary of The Rakuten Group) in your original post, and when Buy.com was sold to Rakuten, it was run by two guys with law degrees. But, even if you're talking about Buy.com today, you're still wrong about the management team:

    Unless they're lying on their site, here is the current Buy.com executive team:

    http://www.buy.com/ct/stores/tocfeature.aspx?loc=15791

    I guess you should have done 4 minutes of research, huh?

    Now, maybe you're saying that the Rakuten management team are a bunch of idiots and that they'll cause Rakuten.com to be out of business by 2014. If so, I disagree...I have a feeling a company with a large international presence and a $13B market cap will likely be around in two years. In fact, I'd be willing to bet on it...

    If you're so convinced that these MBAs are idiots and that Rakuten.com will cease to exist as of December 31, 2014, would you care to wager $10K (we can even have the loser just donate $10K to the winner's charity if you prefer)? I'll put cash into escrow today if you want to make that bet.
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  23. Vigilante
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    Vigilante Warp 6 Staff Member LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I don't get off on your hobby of getting in pissing matches on message boards.

    Go engage someone that gives a shit about anything you have to say. I'm not one of them.
    Kak and (deleted user) like this.
  24. JScott
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    JScott 140 kph Speedway Pass

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    Translation: I'm happy to talk big, but not willing to actually back up my ridiculous statements with anything of value.

    Got it. Thanks for confirming.

    Now you can feel free to go back to bashing the branding decisions of guys who built a $13B company...sheesh...
  25. Kak
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    Kak 280 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I'll pass. :cool:
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