The new breed of e-commerce sites is benefiting by making shopping more personal and more like a game, the CEO of high-end retailer Gilt Groupe said Wednesday.
Susan Lyne, whose site offers designer brands to members at reduced prices, said that by offering a limited number of products for a small amount of time, Gilt has overcome one of the biggest difficulties for online retailers: getting people to move from putting an item in their cart to actually buying it. Gilt’s site has often been compared with real-world “sample sales,” where buyers often scramble to get a few designer dresses before someone else snaps it up.
“The quickest anyone has ever gotten from login through checkout is nine seconds,” she said.
Ms. Lyne was speaking at the TechCrunch Disrupt conference, on a panel that also included Rob Kalin, the CEO of Etsy, an online marketplace for makers of hand-crafted items and the like. Both entrepreneurs believe they differentiate themselves from the Amazons (AMZN) of the world by giving people a more personalized experience.
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