Gilt Principles:

  • Deals once a day that go away quickly
  • Membership is free and invite only -> Viral Growth
  • Members come back because it’s “new” every day – there are a lot of options to choose from but not paralyzing and overwhelming
  • Gilt is not about search. It’s about discovery. It’s a private shopping experience.
  • Driven by beautiful imagery not category – very different from other e-commerce sites
  • Don’t be too complex and keep it fun
  • Customer insights = customer intelligence. Wealth of information and increasingly important tool to get partners. Most partners are wholesellers.
  • Gilt can tell velocity (what products sold fastest, etc). Can show them what brings customers in. What customers buy. Unmet demand. Waitlist. These often number in the thousands and hugely valuable to brand partners. Give them insight into what young women are going after.
  • In the long term, Gilt rebuilding platform where they can serve dynamically, every member based on preferences, buying history, behavior, etc.
  • Noticed that there were a lot of “shoppers” on the site who weren’t making the purchase. When they dug deeper, they discovered that most of their users still thought that the items are too expensive or that this was just not their lifestyle. So they consciously introduced lower priced items to appeal to this group.
  • Susan has 10 key metrics to eye on. Make everyone at company conscious on these 10 metrics. Should constantly review these metrics as important measurement of company’s health.
  • Always experiment with different sale concepts. But always offer a value proposition to your customers. Eg. Selected 20 items and did a promo on Gilt.com at full price. If the customer spent more than $250, they got a credit as well as additional gift. So this is more incentive to customers to shop online vs in store. Goes to show that a lot of customers also buy items at full price since they have come to trust Gilt as a high quality site referral for fashion. That is why branding is so important.
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