Flash Sale Sites Good for Business?
Customers won’t pay full price for anything again. That’s the primary argument against flash sales sites (such as Myhabit or One Kings Lane), which offer deeply discounted items for a short period. But some evidence suggests that flash sales sites are helping some brands boost full-price sales and online awareness.
Ecommerce retail trends site The High Low shared the experience of upscale candle maker Saint Parfum. The company offered a deal ($55 candles for $25) on One Kings Lane. Visits to the Saint Parfum website spiked, from 250 to 6,000 hits per day, and the company reported an increase in full price sales for the next several months. The special also attracted 20 new retailers.
This doesn’t necessarily make flash sale sites the right new media choice for every business. But it does make them worth consideration for retailers who have healthy margins, inventory to move, and an eye on the big picture.
What do you think?
For more info on flash sale sites, check out this New York Times article.