I came across this article in Entrepreneur Magazine (How online is affecting brick and mortar).
What do you think of the Hautelook model? Do you think it is sustainable?
http://www.entrepreneur.com/article/217179.© BrainMass Inc. brainmass.com October 4, 2022, 4:54 pm ad1c9bdddf
SOLUTION This solution is FREE courtesy of BrainMass!
The Hautelook model is based on traditional ideas of bargain basement sales, such as the well known Filene's Basement, that sells designer brands at huge discounts, in larger U.S. cities. However, it uses the technology of the internet to reach a far greater number of potential shoppers. This is a much better option than allowing designer garments or products to sit in stores such as Filene's, possibly for months. Reaching a larger audience increases the likelihood that the overstock will be sold.
The model is one that shows flexibility, or the ability to change, with new trends in retail. The model began as a traveling business that catered to college students, with the designer overstock items. The basic model was already in place. It adopted a new forum for sales that has the potential to remain successful, with careful planning. This model is sustainable, as long as the products continue to change and customers continue to feel they are offering exclusive bargains. This means continuing to limit the products and number of potential buyers who view the items each morning. The model shows enough flexibility that it can expand, as with the home products and gourmet foods. This flexibility keeps customers interested and broadens the potential for profit, with the expansion of products offered.© BrainMass Inc. brainmass.com October 4, 2022, 4:54 pm ad1c9bdddf>