You heard it here first (ok, maybe not first, but you heard it here)...the flash sale site boom "may" be over. Companies like Gilt, HauteLook and Zulily, who were once seeing 75% increase in sales year-to-year are now experiencing a decline in sales. As the economy improves and the taste for luxury goods increases, high-end brands are keeping their productions low to prevent any excess inventory -- i.e., no off-price deals to be found on Gilt for that Chloe handbag you've been eyeing.
With limited availability of brands shoppers now covet, coupled with the competition from behemoth brick-and-mortar off-price stores like TJMaxx and Nordstrom Rack, sites are forced to either adapt or forfeit.
Now we're seeing companies like Gilt creating their own line of clothing, providing Personal Shopping services to clients where they are then able to shop at Gilt warehouses in person for items. Subscription services like Trunk Club and StitchFix are cropping up and tapping into shoppers desire for personalization and convenience. These types of hybrid-retail models are the new-normal.
Do you still shop on flash sale sites? Which ones are your favorites?