This document provides an overview of private sales and identifies key elements that have led to success for leading private sales sites. Private sales allow exclusive access to luxury brand merchandise at discounted prices through timed online events. The document examines the business models of top private sales leaders and identifies best practices around viral marketing, cart reservations, lack of site search, one-page event listings, and standardized sales event times. It also predicts future innovations in areas like fashion content, top referral networks, customer idea communities, and crowd visualization. The document provides guidance on whether private sales would be a good fit for different businesses based on factors like brand positioning and customer data.
The CMO Survey - Highlights and Insights Report - Spring 2024
The Secret to Building a Successful Private Sales Site
1. The Secret to Private Sales
What you can learn from the top 5 players.
2. Table of Contents
What is Private Sales, and why is it so hot right now?……………….…pg. 3-9
Who are the leaders?…………………………………………………………………..pg. 10-14
Key elements of top Private Sales sites ….…………………….……….….pg. 15-21
A peek at what’s next.…………………………………….…………………..………pg. 22-27
Is Private Sales a fit for your business?.…………………………….……..pg. 28-30
Contributor biographies……………………………………….…………….……….pg. 31-33
Thank you…………………………………………………………………………….….……….pg. 34
3. What is Private Sales, and why is it so hot
right now?
Private Sales is an emerging retail concept through which luxury retailers
and brands sell merchandise on an exclusive, online platform to an exclusive
customer base. Though there are several variations to the model, Private
Sales sites are generally defined by the following:
• Invite-Only — access requires an invitation from the brand, or a
member friend.
• Name-Brand Merchandise — sale items are quality, not cheap or
out-of-date.
• Discounts — items are compellingly priced to drive impulse purchases
and loyalty.
• Selling Event — sales are timed events, during which the merchandise
is offered either until it sells out or a set deadline is reached.
10. Who are the leaders?
Though the market is dynamic, the following companies have
emerged as early leaders in the Private Sales space; therefore, they
represent the most likely sources of tested best practices.
15. Key elements of top Private Sales sites
A successful Private Sales model requires the creation of an exclusive
club, a viral invitation-only machine, a highly loyal repeat
customer base and a powerful demand for impulse purchases.
Several key design elements have become best practices to achieve
these objectives:
22. A peek at what’s next
Private Sales is still a young retail
concept, and rapid innovation in the
user experience is to be expected.
Following are some of the advances
we expect to see on leading sites
over the next year.
Image credit: alicia rae
28. Is Private Sales a fit for your business?
Private Sales has become one of the fastest growing new retail
concepts. Many companies are looking to offer Private
Sales to tap into this trend, but how do you know if it
makes sense for your business?
34. Thank you for your time!
We hope you enjoyed The Secret to Private Sales.
Please connect with us on Twitter, Facebook, LinkedIn or our
Ecommerce Blog to let us know your thoughts.
Or, to discuss launching a Private Sales site for your
business, contact Optaros today:
Phone: (617) 227-1855
Email: Info@Optaros.com