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For Better or For Worse


17 July 2007

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Traditional gift stores are taking the biggest hit in the bridal industry with online registries such as OurWishingWell.com now claiming a large share of the rapidly expanding $5 billion industry - making giving and receiving gifts easy and time-friendly.

At the end of this month, Sydney a couple will do what over one hundred thousand people do each year in Australia - get married. But well before that sacred moment, their engagement has already transformed them into something else: a dream target for practically every retailer in the country.

The 2006 Bride to Be cost of love survey has estimated the Australian Bridal Industry to have revenues of over $5 billion per year, with the average twenty-something couple spending around $35,000 on the event itself. The gift registry sector - where the happy couple lists what they would like their guests to buy for them - is estimated at tens of millions. Take all those marriage-minded twenty somethings and all that shopping, and the only next logical step was for the bridal space to go online. And it's not only the wedding space that has taken the registry idea online - many other special occasion registries have moved online too.

From an IT point of view, a retail store gift registry is a relatively complex set of database and supply chain interactions. The database has to present a secure environment to the person who's registering. That information is then displayed to those who are buying the gifts. If a specific gift is selected, it is removed from the list before anyone else orders the same thing. Meanwhile, the database has to interact with the retailer's inventory lists, showing what's in stock and, in the best of all possible worlds, alerting buyers and registrants when things are on back-order.

In an increased number of cases, there is a very narrow window between wedding announcement and wedding date which leaves no time to be back-ordering and waiting for items which are out of stock.

To address this gap in the online gift registry model, Joseph Renzi created OurWishingWell.com - a new concept gift registry where the bride and groom can list items from any store - or even money to help pay for the event.

Joseph Renzi, says online giving is becoming very popular. "Online gift registries are a big draw for busy people. Usually you have to go to multiple stores and consolidate what you do, which can be very painful, especially dragging the groom to the mall,"

"We wanted to make sure everything was made easy for the guests - we didn't think it was right to ask for cash, so OurWishingWell.com was the perfect answer," says bride-to-be Melanie. With friends and family scattered around the country, she says, "today, it's almost a must."

"When we started this project, it was really important that we maintained common services and developed an online solution catering to different needs, as opposed to a single store registry," says Joseph Renzi, CEO of OurWishingWell.com.

"The problem with working with retailers in this type of situation is they have order systems that are slow and may not be updated as quickly as people who use the Web are accustomed to," Renzi said.

"Not everybody wants to order all their gifts from one location".
OurWishingWell.com has become so popular amongst all type of celebrations, that the brick-and-mortar stores' are running scared. "OurWishingWell.com is more efficient for both the hosts of the event, and saves time for the guests," says Renzi.



If you would like more information, then please contact us.
 
   
  We had a lot of positive comments from our guests, and it was such a hassle-free and fun process - thanks very much to your whole team.  
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  Host Benefits Guest Benefits  
Gift Registry

"Save Time" for the host:

  • quick & easy - less than 5 minutes to set up
  • no more shops - set up from the comfort of your own home & avoid returning unwanted / duplicate items

"Save Time" for the guest:

  • quick & easy - provide gifts within minutes through OurWishingWell
  • no more shops - avoid running around to find gifts - you can use OurWishingWell anytime, from the comfort of your own home
  Gift Registries

"Save Money" for the host:

  • avoid wasting money - no duplicate items
  • avoid disappointment - get items you want & need
  • not limited to products / prices from one store - use money anywhere
  • free to create your own personalised gift registry / wishing well

"Save Money" for the guest:

  • avoid wasting money - no duplicate items and only items that the host wants/needs
  • avoid disappointment - your host chooses the items they want/need - you simply pick the gift(s) that you would like to contribute towards
  • save money on petrol - no hectic travelling from store to store
  • save money on wrapping - no wrapping of presents means more money to contribute towards gifts or more money saved by you  - you choose
  • save money on shipping & handing - no shipping & handling fees means more money to contribute towards gifts or more money saved by you  - you choose
  • free to view a registry (before deciding if you would like to proceed or not)
  Wedding Registry

"More Value" for the host:

  • expensive gifts are now an option - instead of smaller gifts, multiple guests can contribute to bigger items
  • money can go towards the things you really need

"More Value" for the guest:

  • instead of individual smaller gifts, multiple guests can make a contribution towards larger, more significant, items
  • money goes towards the things the host really needs/wants
  Gift Registry

"Reduce Stress" for the host:

  • eliminate the hassle of transporting large/numerous gifts
  • eliminate the stress of worrying about large amounts of money being stored in a physical wishing well on the day of the event
  • OurWishingWell.com is safe and secure

"Reduce Stress" for the guest:

  • eliminate the hassle of transporting large/numerous gifts
  • eliminate the stress of trying to pick the right gift
  • eliminate the stress of large amounts of money being stored in a physical wishing well on the day of the event
  • OurWishingWell is safe and secure
  Gift Registries

"Access Money" for the host:

  • instant access to money as soon as it is contributed by your guests
  • guests can provide money instantly (before the event)
  • you can use gift money to help pay for the event

"Access Money" for the guest:

  • help your host to obtain the things they really need by providing gifts of money
  • any gifts of money you contribute are instantly available to your host (before the event) so they can benefit straight away
  Wedding Registry

"Easy Access" for the host

  • overseas guests and those who cannot attend can still provide gifts
  • no one is limited to shop business hours - 24/7 access for you and your guests (anytime, anywhere)
  • quick & easy for your guests to use
  • support team ready to help - so you can relax & enjoy your event!

"Easy Access" for the guest

  • overseas guests and those who cannot attend can still provide gifts
  • no one is limited to shop business hours - 24/7 access for you to contribute (anytime, anywhere)
  • quick & easy to use
  • support team ready to help - so you can relax & enjoy the event!
 

"Safe & Secure" for the host & guest:

  • technical and security best practices - using "Secure Sockets Layer (SSL)"
  • internal and external fraud prevention measures
  • strict privacy policy
  • you are in control over your account and how/when your money is withdrawn
  • all transactions are logged for auditing & authenticity validation purposes
  • thousands of other people have successfully used our services - see testimonies
  • our organisation has built a reputation based on quality service, honesty and integrity since 2003
  • our organisation has received a number of awards and accolades
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