We are making some important updates to the Rewards Store today to ensure that Listia can continue to provide great new items to all members in a fair and fun way. A summary of the changes is listed below, but we encourage everyone to continue reading this entire post to fully understand the reasons for the necessary updates:
- Rewards Store items are being simplified into three different categories:
- Staff Picks: Great new items shipped to you by Best Buy and Walmart (items previously found under other categories will be located here)
- Listia Goods & Gear: Listia swag, including t-shirts, mugs, stickers and coins
- Amazon Gift Cards: Official Amazon.com gift card codes, delivered digitally
- Most items, including all items sold through “Staff Picks,” will now be auctions that do not include a Get It Now (GIN)
The shift from GIN only items to regular auctions is the change that has the largest impact on Listia members. Since the Rewards Store first launched over two years ago, most of the items on the store have been available to Listia members through a fixed price (no bidding, just a GIN option). It was introduced as a nice benefit of being an active seller on Listia, and we felt that having GIN as the only option made buying from the store both quick and easy. It started off at a small scale, and the store was nearly always full of great products, and everything seemed fine.
In the span of the last several months though, we’ve noticed that items began to sell out extremely quickly (Can you imagine someone winning a 3-piece luggage set within 30 seconds of it being listed? It happens.) The Rewards Store started to look very sparse, and at times was completely sold out. An easy solution would have been to simply list more and more items, but as you can imagine, that would quickly become too costly for Listia to maintain.
There are two main reasons why the Rewards Store started to sell out:
- The Listia community is growing, and that means more members are using the Rewards Store as a great way to spend their credits.
- Items in the store were often priced much lower than what they would sell for on the rest of the site. In many situations, winning an item on the Rewards Store could be considered a steal, and who doesn’t love a great deal?
Over the last two years, we’ve steadily grown the Rewards Store. We’ve also changed the Get It Now amounts a few times to make the items priced more accurately. Those actions weren’t quite enough to keep the Rewards Store in a state where enough members could participate in a casual, stress-free way though. Hearing members’ stories about needing to refresh the Rewards Store constantly to immediately “snipe” something that gets listed is one of the things that keeps us up at night!
A few answers to some of the questions you may all have:
How long will the auctions be live for?
We are starting off with 5 day auctions, which we feel is short of enough to keep things exciting, but also long enough to make sure everyone gets a chance to see it. Items will be starting and ending daily, so keep your eyes peeled!
Will things get more expensive?
Since Listia will no longer set the price of most Rewards Store items, the bidding will behave just like any other auction on Listia. It’s hard to say if specific items will tend to sell for more or less credits, but in general you should see prices more accurately reflect their fair market value.
Our goal with today’s changes is to keep the Rewards Store as an enjoyable and rewarding place for our members to use their credits. While we are sad to see the GIN option go, we feel that it is a necessary step to make sure the store stays up-and-running for all members. Also, by having Rewards Store items as auctions with no starting bid and no GIN, everyone can place a bid early to have their opportunity at winning. As a separate measure, we will be increasing our focus on keeping the items as fresh as possible!
Thank you all for continuing to be a part of the Listia community!