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Remember when you set your alarm according to flash-sale sites? While rumors swirl that Gilt Groupe may be gearing up for its initial public offering, WWD reports that insiders are questioning whether the flash-sale model is viable over the long term.
First introduced in Europe, and popularized in the U.S. by Gilt, Ideeli, HauteLook, and Rue La La, flash-sale sites are members-only and offer limited-time discounts on designer goods. They struck at the perfect time: following the 2008 economic downturn, when retailers needed to move excess stock, and shoppers sought bargains like never before. The business model was such a success, major department stores got into the game, too, with Neiman Marcus and Saks Fifth Avenue hosting their own flash sales.
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But, these days, we've noticed the pickings on sale sites are a little...slim. The reason for that is threefold. First, the economy is on an uptick, especially in the higher tax brackets. This means that luxury shoppers are more likely to buy current-season offerings at full price, rather than waiting for a bargain. Brands have also learned to better manage their stock, so there isn't as much excess inventory to go around. And, finally: simple market saturation. With so many sale sites crowding the e-comm landscape, chances are they're not all going to have the most covetable goods. Which explains why the last few times we opened our subscription e-mails, we saw a lot more "meh" than "must have."
On the other hand, some analysts say that sale sites have gotten shoppers addicted to both higher-end shopping and bargains — so they won't be going away any time soon. This writer seconds that emotion. I haven't flash-shopped for a while, but that's because (unlike when I first subscribed), I live in a major city and can get my fix via sample sales and end-of-season department store clearances. I certainly haven't grown immune to a deep discount.
What say you, readers? Do you still stalk Stella boots on flash sites, and look forward to your daily deal e-mails? Or has the sheen worn off? Let us know your thoughts in the comments. And, if you have any next-level sale sites to share with us, we're definitely listening. Even if they're no longer the darling of the e-comm world, we can't say no to a good bargain. (WWD)
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