Clothing retailer Gap has launched a new deal on its Facebook page today, urging shoppers to visit the gapmyprice.com site and give offers on what price they believe they should pay.
The deal works like this: users click on the “let’s make a deal” button on the Facebook page, which gives users an option to pick a product from a list. Then, users can provide an offer for the price they want to pay.
Then, Gap makes its final offer. The company says the move is an attempt to create “more surgical” promotions, as opposed to simple discounts.
Chief executive Glenn Murphy told Advertising Age that in 2010, the company could have been more creative with its deals.
“In general, [2010 promotions] could have been done more surgically. [There] could have been a little more thought and innovation and creativity brought to it. And that’s the expectation of a company like ours,” Murphy said.
“Anybody can put an easel outside a door that says take an extra 25% or 30% off. We’ve fallen for that trick a few times, and that’s not smart as far as I’m concerned.”
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
