This is a pivotal time period for Groupon, LivingSocial, Gilt Groupe, and other online “flash sale” retailers. For example, as noted by Daily Deal Media:”Groupon is trying to dig itself out of the trenches and increase its value again. It’s added a special deals category to make the move into E-commerce. To streamline that process, it has acquired Commerce Interface to help manage Internet orders. It has also acquired Glassmap, a tool used to locate Facebook and Twitter friends.”
Recently, Inc. did an analysis of Gilt Groupe and an interview with its founder:
“In the world of flash-sale sites, Gilt Groupe remains one of the largest: Last year online shoppers purchased $600 million worth of clothing, trips, and home décor from the New York-based company, often at steep discounts. During the past year sales grew 62 percent, but the company also cut costs; it laid off 10 percent of its workforce, shuttered several offices of its local deals site, Gilt City, and closed its full-priced menswear shop Park & Bond as it sought to break even. In December, Kevin Ryan, the company’s founder and chief executive, announced he would step aside and become chairman, making way for Gilt board member Michelle Peluso, Citigroup’s former head of marketing and Internet, who will take over as CEO at the end of February.”
“Inc. senior writer Burt Helm recently spoke with Ryan about his future with the company and the fate of flash sale sites.”
Click the Inc. photo of Ryan to read excerpts from the interview.