The New Stuff

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Luxury Goods Makers Resort to Private Online Shopping Site to Sell their Overstocks


Screen shot 2009-11-05 at 10.35.24 PM

If there’s one good thing the came out of the recently ended recession, that has to be the proliferation of members-only online shopping sites. And guess who are supplying their wares? None other than the makers of luxury goods which have found a new avenue to sell their goods particularly the overstocks which remained in their inventory.

Thanks to private online shopping site such as Gilt Groupe, Rue La La, and Ideeli, luxury brands have found their way to fashionistas who were forced to tighten their belt during the economic recession.

The demand for luxury goods in those private online shopping sites were so high that Forrester Research predicts that sales from the three major players in  online shopping industry will amount to $300 million this year.  That’s a significant figure considering that the economic recession has just ended.

That sales figure also contributes a lot to the estimated $1 billion online sales of luxury goods that the industry will make come year end.

What could be causing this phenomenon? There are several factors that contributes to this – sale price mentality among shoppers, the exclusivity of the online shopping site which makes shoppers all the more excited to get in and once they are in, will have the tendency to shop till their drop, and other factors.

The good news is, this might be just the beginning of a bigger and bolder future for online shopping sites. As the market matures, expect companies to push out more marketing strategies that would lure more online fashionistas to shop on these sites.

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