This interesting case is on the back of my last blog post, where I noted my quotes regarding flash sales in the Fashion Forum article: http://rinahansen.com/2011/05/21/the-great-potential-of-flash-sales/ and its inspiration for LazyLazy.com who following launched the first ever 24 hour flash sale in Denmark on the 18th May.
LazyLazy.com first case of 24 hour flash sale with up to 70% off were a massive success:
- The number of visitors doubled on the day of the flash sale
- The turnover was 6,5 times higher than an average day the week before
- The conversion rate nearly doubled
- The average basket size was remarkably higher than usual
- and interestingly, 30% of the basket was bought at full price
I think its safe to say that flash sale has come to stay in Denmark. It generates a great buzz, it amplifies the visitor number and conversion rates and it inspires full price sales as well. – and all this without hurting the brand as we have seen with normal sales and discounts.
I look forward to see how this trend develops in creative ways which will support fashion ecommerce overall.