Gap is in trouble. In a matter of months, both the company’s president Marka Hansen and creative director Patrick Robinson have been given the boot. Management changes aren’t the only thing the retailer is doing in an effort to turn itself around. Gap has just launched a name-your-own-price website — GapMyPrice.com — and it’s predicated on an interesting concept.
The site features 15 items Gap has deemed haggle-worthy, ranging from shorts to cardigans to dresses (for ladies only — sorry, dudes!). Once you’ve picked the piece you want, you’re prompted to offer the price you’d be willing to pay for it. As a reference, the retail price is shown below (and yes, these items are available for full-price over at Gap.com). You are then offered a price by the site, which you can accept or try to bargain down some more. Eventually (after about three rounds), the site will give you a final price it’s willing to settle on. If you think it’s a fair price, you can then download a coupon (it can also be emailed to you) with the slashed sum. Here’s the catch: the coupon can only be used in stores, not online.
Clever, right? The site leverages digital means to get people into stores, while feeding into our love of sales. You can get coupons for all 15 items, if you’re so inclined! We’re usually not big on haggling, but going back and forth with a website is way less awkward than doing so IRL at a flea market. And the price cuts are sizable! We were able to snag a cute pair of cuffed shorts for $21 (original price: $39.95) and a sheer long-sleeved blouse for $30 (original price: $59.95).
We don’t necessarily think an experiment like this can save the company, but it certainly has us planning a trip to the nearest Gap.