Class question: Does anyone know any examples of flash sale websites? These are some, but not nearly all Has anyone used flash sale websites before? Which website(s)? Why do you buy the deals? Do you really need the product? Do you buy it for a practical purpose or just because you can’t resist the deal? Addiction?
focused on luxury apparel and accessories Vente Privee grew fast and profitably in Europe and that spawned similar businesses in the United States Now there is less luxury inventory and flash sales sites are bigger. That has forced these companies to pay more or find other ways to get their products. Average deals have dropped from 70% off to about 50% They have increased in popularity but that has caused the effectiveness to drop because there is no longer a surplus of brand named stock so flash sales have turned to lesser known brands and reduced savings.
by Doubleclick co-founder Kevin P. Ryan, early eBay executive Alexis Maybank and Louis Vuitton and Bulgari merchandising executive Alexandra Wilkis Wilson
Products: Groupon has restaurants, retailers, spas, hotels, dental services, online services, sports clubs, etc vs. Gilt has mainly clothing brands, expanding with “Jetsetter” to vacations, with “Taste” to food, with “City” to high end restaurants, retailers, etc Different gilt sites: giltcity.com, gilttaste.com, jetsetter.com Language: Groupon “we sell stuff we want to buy.” “no BS.” “no ‘gotchas’” vs Gilt language is more formal
Gilt exclusivity is false…just for feeling of New York exclusive invitation-only sample sales
Ask a group to volunteer to choose preferences for the new customers.
By offering deals on sites like Groupon and living social local businesses can grow their customer base Many consumers purchase something they wouldn’t usually because of a deal on a flash sale website This is a great tool for restaurants and coffee shops Allows businesses to sell unsold merchandise This ranges from apparel to hotel rooms and much more Helps the company by promotion through word of mouth Flash Sales have become an industry in themselves
Ebay, Neiman Marcus and Saks Fifth avenue have added flash sale components to their websites to sell unsold merch Recent articles have The GiltGroup nearing a $1 billion evaluation, Hautelook sold to Nordstrom earlier this year for $270 million.
John DiLoreto Kaitlyn Dormer Mathew Gravesande Nick Jerome
launched women's clothing and accessories in November 2007, men's in April 2008, Gilt Groupe Japan in February 2009, Gilt Fuse in August 2009, a travel site named Jetsetter in September 2009, Gilt City in April 2010 and Gilt Home in May 2010