Discovery-based shopping and private-sales site
Just finished reading Adam Bernhard’s interview for Entrepreneur magazine. He runs Hautelook a member-only private-sales site and predicts glory to discovery-based shopping . Privates sales are also huge in Europe led by vente-privee.com and allow retailers to get rid of old items but also go multi-canalals, approach new customers… (too many advantages for brands to go through the list).>They didn’t even know they wanted to buy something
That’s exactly what we’re trying to do with Koopon. Because you bring something unique, fun and at a price you can’t refuse you put customers into an ideal situation.
What works best in terms of pricing? “Discount”. The goal when we started was nothing less than 50-percent off.
Half-price off is so important to customers that you got start there and find the right balance with owners to break-even. This is key in that industry. Long way to go but we’re working on it.