When a product or products of a company is offered at a huge discount for a limited period of time, it is known as flash sales (Grewal et al., 2012). However, daily deals are smaller subset of flash sale. It is also important to consider how various companies run flash sales. On the contrary, a flash sale is different from a daily deal in the following ways:
As the flash sales represent a perfect combination of price and quantity limitation they seem to excite the customers. This kind of sale helps in the creation of loyalty amongst the customers. However, flash sales can be a rewarding option for the loyal customers by providing them access to exclusive deals.
The margin of profit is an important consideration while determining flash sales(Piccoli 2012). Thus, it is important for the companies to attract the right kind of customers that will help avoid the deal hunters. Companies can ensure flash sales to be profitable by considering it as a part of marketing strategy.
The report ends with a discussion on the profit margin of flash sales. Through the report one also gets to know about flash sales, their role in creating loyal customers and their impact on the profit margin of a company.
Grewal, D., Roggeveen, A. L., Compeau, L. D., & Levy, M. (2012). Retail value-based pricing strategies: New times, new technologies, new consumers. Journal of Retailing, 88(1), 1-6.
Piccoli Ph D, G. (2012). Emerging marketing channels in hospitality: A global study of internet-enabled flash sales and private sales.
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