'Flash sales' can provide savings this holiday season
Wednesday, November 18, 2009 11:36 PM
A new type of sale being utilized stateside by some online retailers this holiday season may provide opportunities for those consolidating debt to get their holiday shopping done without breaking the bank.According to online discount website Totsy.com, "flash sales" are a type of promotion being used by an increasing amount of U.S. retailers this year. The deals offer deep discounts that consumers only have access to if they get an exclusive invitation.
By using the sales, retailers are able to offer lower prices than they would be able to the general public, while also specifically involving groups of consumers who are interested in their product.
"The US market has recently adopted the online flash sales model that has been incredibly popular in France and throughout Europe," said Guillaume Gauthereau, co-founder and CEO of Totsy.
Gauthereau added that Vente-Privee, a French company that helped popularize the private flash-sales concept in 2001, had been so successful that it attracted 8 million members may generate $1 billion in revenue in 2009.
Consumers seem to be adamant in their desire to spend less this holiday season. According to a recent survey from Experian’s Price Grabber, 54 percent of consumers expected to reduce their spending, while only 5 percent said they planned on increasing how much they were going to spend.
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