Online flash sales less flashy as inventory shrinks
October 21, 2011 | Online Marketing
The flash sales business has lost some of its flash, forcing online luxury clothing merchants such as Gilt Groupe, Ideeli and Rue La La to radically change their business models.
These businesses burst onto the fashion scene during the recession to try to move a mountain of unsold clothes. 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.
It has also led to questions about whether they can turn growth into profits.
"The original flash sales model for the U.S. exploded during a time when there was this huge abundance of excess inventory," said Steven Dennis, founder of SageBerry Consulting and a former executive at retailer Neiman Marcus. "There's not nearly so much of this merchandise around now."
Get the full story at Reuters
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