Bluefly rolls the dice on new selling strategy
An online fashion retailer is using social media in a new way to sell exclusive, limited-availability merchandise.
Bluefly is adding a gamified platform from NeWants that leverages the social media accounts of its customers, affiliates, and influencers. The move, which replaces traditional, expensive marketing efforts, will enable the company to sell a limited amount of newly-designed products each day at considerable discounts.
The retailer will feature an interactive flash sales page that creates a game-like environment. This page has the ability to virally spread its suppliers’ unique links, and reward shoppers for doing so, creating a gamified experience.
Here’s how it works: The page will feature a limited amount of Bluefly’s newly designed products each day. Shoppers are required to share the flash sales page on their social media sites once a day to participate. Those who share the page’s link will receive three chances to earn discounts of up to 95%.
The page shares benefit both Bluefly and its suppliers. For example, vendors potentially can drive interest in their offerings, and earn more money by linking merchandise to the flash page. Meanwhile, Bluefly is able to sell merchandise that is developed using “a crowdsourced blockchain-based model that enables customers to become investors by funding the latest manufactured products and sharing profit once the product sells,” according to NeWants.
Bluefly also avoids the inventory problems that plague many e-commerce firms since they are selling large quantities of a limited number of items that are priced effectively. This eliminates price markups and increases return on investment, the company added.
To retain the integrity of the merchandise, NeWants caps its vendors and manufacturing partners at 10,000 so it can effectively manage quality standards.
"By decentralizing e-commerce we offer our crowdfunding-produced tech, home and lifestyle products that are presented directly to customers, cutting out the middleman, because funders share the profits from product sales,” said Alessandro Armillotta, founder of NeWants. “Our disruptive model connects people together by offering referrals and crowdsourced product funding. By shipping directly from manufacturers and avoiding traditional marketing costs, we'll keep our margins very low so we can afford to offer massive discounts to the customer base."
Bluefly is adding a gamified platform from NeWants that leverages the social media accounts of its customers, affiliates, and influencers. The move, which replaces traditional, expensive marketing efforts, will enable the company to sell a limited amount of newly-designed products each day at considerable discounts.
The retailer will feature an interactive flash sales page that creates a game-like environment. This page has the ability to virally spread its suppliers’ unique links, and reward shoppers for doing so, creating a gamified experience.
Here’s how it works: The page will feature a limited amount of Bluefly’s newly designed products each day. Shoppers are required to share the flash sales page on their social media sites once a day to participate. Those who share the page’s link will receive three chances to earn discounts of up to 95%.
The page shares benefit both Bluefly and its suppliers. For example, vendors potentially can drive interest in their offerings, and earn more money by linking merchandise to the flash page. Meanwhile, Bluefly is able to sell merchandise that is developed using “a crowdsourced blockchain-based model that enables customers to become investors by funding the latest manufactured products and sharing profit once the product sells,” according to NeWants.
Bluefly also avoids the inventory problems that plague many e-commerce firms since they are selling large quantities of a limited number of items that are priced effectively. This eliminates price markups and increases return on investment, the company added.
To retain the integrity of the merchandise, NeWants caps its vendors and manufacturing partners at 10,000 so it can effectively manage quality standards.
"By decentralizing e-commerce we offer our crowdfunding-produced tech, home and lifestyle products that are presented directly to customers, cutting out the middleman, because funders share the profits from product sales,” said Alessandro Armillotta, founder of NeWants. “Our disruptive model connects people together by offering referrals and crowdsourced product funding. By shipping directly from manufacturers and avoiding traditional marketing costs, we'll keep our margins very low so we can afford to offer massive discounts to the customer base."