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Flash Sales Becoming the Equivalents of Outlet Stores

SHOP TILL YOU DROP FLASH SALES BECOMING THE VIRTUAL EQUIVALENTS OF OUTLET STORES Retailers integrating flash sales into their existing websites can immediately create new revenue opportunities without launching a separate business. And when you consider that consumers cite reputation as the most important feature of a flash-sale website, established brands have a head start on getting in on one of the fastest growing segments of ecommerce. FLASH SALES ON THE FOREFRONT Flash-sale websites have grown exponentially Typically lasting a few hours or a few days at most, flash sales promote deep, long-term customer engagement with brands and provide a way to reduce excess inventory or drive in-store traffic for a special promotion. since 2009, logging a 368 percent increase in 368% monthly market share. Flash sales create a sense of urgency that consumers often do not want to miss out on. NOT A FLASH IN THE PAN Flash sales are fueling the recent success of many companies: IN GILT GROUPON Fab. vente-privee.com NORDSTROM Nordstrom acquired Gilt Groupe secured $138 MILLION in funding and American Express partnered with Vente-privee and Its Groupon went public with Fab.com raised $40 MILLION at a reported $200 MILLION valuation. HauteLook for a valuation of more than has been valued at close BILLION-DOLLAR $180 MILLION. $12 BILLION. to $500 MILLION. flash-sale business. USING EMAIL TO BOOST FLASH-SALE CONVERSIONS Email is a key driver for flash sales, generating on average 18 percent of referral traffic-higher than social media and search. 18° 13% 11% Email Social Media Search A majority of businesses 14% 59% 56% report that their email click-to-open rates are higher for flash-sale emails than for regular campaigns. Shorter flash sales are While three-hour flash more effective, with two-hour sales showing higher click-to-open rates. sales have the best transaction-to-click rates compared to averages for the same business. 27% Half of purchases occur during the first hour of 23% 50% The best time to send flash sales. flash-sale emails is in the evening, when companies report higher revenue per email and a significant increase in conversion rates. FLASH SALE TIPS AND TRICKS Flash Sale Flash Sale Flash Sale! 25 1/2 IS NOW ÖVER lash Jale O OFF FF Make sure your email or any Add product badges reflecting the flash-sale prices or discount percentage. When customers click If someone visits after the message about your flash sale includes: through from email to website, your creative flash sale has concluded, show a banner noting that the flash sale has ended. should be "echoed" on • Time/duration of sale • Shipping offer • Coupon code for flash-sale all pages. prices. Familiar brands with loyal customers can no longer ignore the allure of flash sales. Retailers can integrate flash sales into their existing websites without having to engage an IT department or invest a lot of time and money. The time is now. What are you waiting for? monetate SOURCES: HITWISE I STARTUPSMART I EMARKETER I EXPERIAN (CHEETAHMAIL) I GILT GROUPE Follow @Monetate on twitterY

Flash Sales Becoming the Equivalents of Outlet Stores

shared by Monetate on Dec 20
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Retailers integrating flash sales into their existing websites can immediately create new revenue opportunities without launching a separate business. And when you consider that consumers cite reputat...

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