Snapchat has Hundreds of thousands of pairs of Spectacles rotting in its warehouses simply because it committed a stupid mistake
Why is that only 0.08% of Snapchat’s users bought its camera sunglasses? Snapchat warehouses now mourn Hundreds of thousands of pairs of Spectacles which have no demand in the market. Simply because, the company created a big initial hype, kept the sale of Snapbot vending machines on limited time and as roving queues created overestimated demand leading to compromised quality and content by Snapchat.
Snapchat went in heavy loses when massive piles of assembled and unassembled video-recording sunglasses were left untouched resulting in enormous costs and losses for the company. Experts claim less than 50 percent of buyers kept using Spectacles a month after purchase, calling the retention rate shockingly low.
What happened was after the much-hyped product launch, the company took 5 months to openly sell them. Snap first announced Spectacles with some Karl Lagerfeld photos of Spiegel wearing them on September 24th, 2016. It took until November 10th for the first Snapbot vending machines to launch. While the hype had cooled slightly, Snapbots being dropped in random locations made people excited and feel special, keeping the demand huge. But it's surprising that Snap took until February 20th for Snap to start openly selling Specs online. In Europe, It took until June, 8 months after their debut, for Spectacles to become available.
The company further failed to get visionary video markers onboard while the rampant word of mouth about their disuse spread. Neither Snap’s in-house team or independent social stars were recruited to make videos exposing the creative opportunities of the device. Though there were videos by social stars like Karen X. Cheng Snapchat made no effort to viral the video to explain the use and the purpose of the product. Furthermore, the design of the spectacles wasn’t very fashionable and the shaded lenses in Spectacles made them tough to wear indoors or at night. Moreover, the Spectacles only interfaced with Snapchat rather than a phone’s camera roll. Result- waning popularity when clearly Snap could employ other marketing tactics as parachutes even if they botched up the product.
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