Lean Merchandising: What Flash-Sale Websites Can Teach Online Retailers
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A case study of One Kings Lane repeated sales in a single product category over several weeks. Repeated sales enable rapid testing and metrics on everything from presentation elements, to product mix, to pricing. Over several weeks One Kings Lane demonstrates how flash sales are really nothing more than small market tests that can be used to de-risk decisions if applied by traditional catalog and online retailers.
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The customer value proposition is at the core of formulating the product strategy blueprint
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At its highest level, a CVP is a statement defining your promise to your (target) customers, stating the benefits (value) they will receive by buying your product/service – it sets the value/price equation to the intended target market. The CVP should be a succinct customer centric statement that articulates how the product/service will benefit customers.
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- 1. Lean Merchandising How Flash-Sale Websites Learn Fast Prepared by Bill Carrier March 2014
- 2. Casting Seeds in the Gardening Category Prepared by Bill Carrier March 2014
- 3. • Collection Visuals and Taglines • Day of Week • Product Mix • Product Sequencing • Pricing Launching Repeated Sales in a Category: Discerning the Variables of a Successful Campaign Prepared by Bill Carrier March 2014
- 4. Sunday, February 9th Landing Page Headers Create Visually Distinct Collections Prepared by Bill Carrier March 2014
- 5. Saturday, February 22nd Measure the Effect of Taglines Motivating Calls-to-Action Wednesday, February 26th Monday, March 3rd Prepared by Bill Carrier March 2014
- 6. Friday, March 7th Evocative Measure the Effect of Taglines Friday, February 14th Prepared by Bill Carrier March 2014
- 7. Saturday, March 15th Measure the Effect of Taglines Sunday, February 16th Descriptive Prepared by Bill Carrier March 2014
- 8. Scheduling: Launch Repeated Sales Prepared by Bill Carrier One Kings Lane launched sales on these dates
- 9. Scheduling: Launch Repeated Sales Prepared by Bill Carrier One Kings Lane launched sales on these dates
- 10. 1. Test 2. Measure 3. Refine 4. Measure (again) Iterative Sales Process Prepared by Bill Carrier March 2014
- 11. Product Imagery Promotes Repurposing Prepared by Bill Carrier March 2014
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- 14. Most Popular Relisted Items Prepared by Bill Carrier March 2014
- 15. Price Points: Sweet Spot $15 to $75
- 16. Successfully Tests Higher Price Points Prepared by Bill Carrier March 2014
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- 18. Pricing Saturday, March 15thWednesday, February 26th Again, One Kings Lane risks credibility claiming retail price fluctuated from $30 to $40.
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