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Lootcrate files for Chapter 11
- Thread starter zeorhymer
- Start date
BlackOlivesMatter
Banned
Literally the first thing I thought of.
Very Cool....
Very Cool....
Danny Dudekisser
I paid good money for this Dynex!
The entire business was built around overpriced tchotchkes. What did you think was going to happen?
With 250k subscribers I'd expect them to leverage their purchasing power to sell overpriced toys at a tidy profit. But somehow they screwed that up.
Newly Vacant
Member
I subscribed to Loot Crate for a few months, but nothing was worth the price. It was $35 a month, and there's nothing that felt remotely close to being "worth it." I think the only thing I have around from those 4 or 5 boxes is a couple of magnets on my refrigerator. I think the idea of getting new geeky, or videogame-themed items every month is cool, the execution wasn't. Or maybe, the price for well-made items needed to be higher than the market would pay?
newtypepilot
Member
Loot Crate became the nation's fastest-growing start-up, then it laid off over a quarter of its staff
Loot Crate Chief Executive Chris Davis now says he may have done what seemed unthinkable: grown the company too fast.
www.latimes.com
provides a more detailed story why they failed.
Expanded too fast on niche crates without much analysis beforehand thus thinning their own margins. Just lots of bad management decisions.
250k subscribers is actually not that impressive when you consider they've been around since 2012. I mean, they should be leveraging their initial success on securing more licensing deals because it's other companies' IP that'll make people subscribe, but I guess they didn't do that.
Space Runaway
Member
Junk box for youtubers though I did enjoy Ashens videos, at least.
Potato Chip PRO
Member
I see alot of lootcrate shirts at my local thrift shops
kingwingin
Member
I had a 6 month sub once, was cool to e
Get a little surprise box every month.
Shirts were tiny tho. Couldnt fit my BHM body
Get a little surprise box every month.
Shirts were tiny tho. Couldnt fit my BHM body
Nymphae
Banned
Yes please sign me up for another sub service that ships out low quality overstocked merchandise that I don't get to choose for myself. I saw a few of these boxes and it was always junk. Do you think they're going to send you out a box of awesome shit for less than what it cost? No, you're getting unsellable stuff, at a premium. Total bugman service for collecting useless trash.
just_some_nut
Member
must've been the mega crates that done it
DeepEnigma
Gold Member
Wish this would happen to games that include them.
StreetsofBeige
Gold Member
Probably went like this:
1. Hey morons, sub to us monthly and get $50 worth of shit for only $40/month
2. Cost of goods only $35 so our company makes $5 per month! Multiply that by all the subs and that's big money!
3. But what about all the costs of overhead, office leases, warehousing, returns, marketing?
4. Oh shit, didn't think of that
1. Hey morons, sub to us monthly and get $50 worth of shit for only $40/month
2. Cost of goods only $35 so our company makes $5 per month! Multiply that by all the subs and that's big money!
3. But what about all the costs of overhead, office leases, warehousing, returns, marketing?
4. Oh shit, didn't think of that
Mobile Suit Gooch
Grundle: The Awakening
I was a Lootanime subscriber a few years ago. Decided to drop them cause I felt it wasn't worth the price. There are better subscription boxes out there.
I seen quite a few at cons.
Potato Chip PRO
Member
They are $1.25 per shirt at the Salvation Army thrift thats a few minutes away... Get them while they're hot!
SlashBringingHasher
Banned
these kind of things don't make a profit unless you literally ship millions or charge more. their subscription is cheap and they make no money off it unless they can ship so money the logistics kind of average out and they can set up more complex shipping methods and warehouses that make it cheaper.
I looked at their prices and I have no idea how they make money. it doesn't make any sense to ship tiny amounts of goods when shipping storage and other associated costs add up on small items more so than less but big items. its quite obvious why they failed.
I looked at their prices and I have no idea how they make money. it doesn't make any sense to ship tiny amounts of goods when shipping storage and other associated costs add up on small items more so than less but big items. its quite obvious why they failed.
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D
Deleted member 738976
Unconfirmed Member
So long as idiots keep buying them they will keep existing. A shame there can't be a figure company that makes every character ever made just about cheap and affordable but they actually look like what they are supposed to instead of having those big soulless eyes.
Kidrobot is no better but these were perfect for what they are. Why their Mega Man ones had to look shit is beyond me.
They should have been like these. Only Problem I have with them is that they are way too small. That and like the Sonic ones I posted they are in blind boxes.
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yeahokaywhatever
Member
Outside of maybe two cool shirts, the other stuff was manga series that were already available or cheap tchotchkes. Maybe a cute lil' figurine, but nothing was worth the full price of the loot box. Cons always use them as cheap blindbag items.
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