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Feature Story: Gilt Groupe

I am fascinated with Gilt Groupe’s business model. Gilt’s About page states they “provide instant insider access to today‚Äôs top designer labels, at up to 60% off retail. Become a member and find something new every day for women, men, kids and home as well as exclusive local services and experiences, and one-of-a-kind travel packages. Sign in and see what inspires you today.”

I remember I went to a retail event put together by Chicago Conversations on December 2010. A representative from Gilt Groupe was a panelist at the event. He shared with the audience the changing retail environment, profit margins and mentioned that Gilt had sold an authentic car the day before through its website. I was thrilled to learn more about Gilt and went home and did research on the company. Although I have not used Gilt myself, I know a few friends who have and Gilt has been received very positively in the market.

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As more discount oriented businesses flood the marketplace and even established giants (like Google) are entering the market, I enjoy being a consumer more than ever. Brick and mortar retail stores are facing a new competitive front through the explosion of online coupon merchants. At current, it is an exciting time to be a consumer or an online retailer.