Telecom has shut down ferrit, according to http://www.stuff.co.nz/4816111a13.html.
I know a lot of people will be surprised at this, principally at how long it took to shut it down. Ferrit when it launched was a massive misfire, demonstrating Telecoms complete misunderstanding of the online shopping market. Ulitimately, if you bought things off Ferrit, you paid more than if you went to the shop.
Anyone who had used the internet (at all!) understood immediately that this wasn’t going to work, and lots of various commentators commented something like “Um, Telecom, this isn’t going to work. People want selection and a bargain shopping on the internet”. Telecom however, replied convincingly, “Yes it is”. And we all went… “huh? Why?” and they said, “it just is”. And so they spent millions proving us wrong… i mean… right.
It wasn’t that the idea was necessarily wrong, simply that the execution so misunderstood the use of internet for shopping. If you can go down to the shops and buy it for the same price, for most things people will do just that. If you start to save… >=20% (I made that number up, but it sounds about right), people will buy online.
And that includes shipping. The interesting thing is that a million people told Telecom this after the launch of Ferrit, a million more must have said beforehand, it was as obvious as the meteorite that killed the dinosaurs, but… Telecom knew best. I find that fascinating…