I am fascinated with Gilt Groupe’s business model. Gilt’s About page states they “provide instant insider access to today’s 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.
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.