E-Commerce case study

Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 1 MarketLine Case Study Ideeli The growth of the flash sale website Reference Code: ML00007 -008 Publication Date: July 2012 WWW.M ARKETLINE.COM MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 2 O VERVIEW Catalyst Ideeli, a flash sale shopping website, was co-founded in 2006 by Paul Hurley and Mark Uhrmacher. Flash sale sites are involved in limited time sales on reduced price merchandise. Just five years after it was founded, in 2011, Ideeli was ranked the fastest growing private company in the US by Inc. magazine. This case study will examine the factors that have led to the rise of Ideeli and possible issues the company may face going forward. Summary  Ideeli was co -founded in 2006 by Paul Hurley and Mark Uhrmacher, begi nning as a small company operating out of a New York apartment. The com pany now has over 250 employees, around 5.5 million members and over 1,000 suppliers.  Since the company began it has adapted from a marketing platform to a flash sale site. The flash sa le model was based on a French online private shopping company, Vente -Privee.  In 2011, less than five years after the company was started, Ideeli was named the fastest growing pr ivate company in the US by Inc. magazine.  The rapid success of Ideeli can be attributed to a number of factors, with recession being the overriding one.  Going forward, the company faces numerous threats to its success. It is questionable whether flash s ale sites can continue to grow in post -recession times and continue to compete i n an ever growing marketplace.  The rapid success of Ideeli may be a threat to its future growth. The company must attempt to contin ue to secure good prices from suppliers and grow as its member base does.  Success in the future may be guided by diversificat ion in the company 's business model or its product offerings. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 3 TABLE OF CONTENTS Overview ................................ ................................ ................................ ................................ ................................ ...... 2 Catalyst ................................ ................................ ................................ ................................ ................................ .... 2 Summary ................................ ................................ ................................ ................................ ................................ .. 2 Analysis ................................ ................................ ................................ ................................ ................................ ....... 6 Ideeli was founded in 2006 ................................ ................................ ................................ ................................ ........ 6 Ideeli was originally a marketing platform ................................ ................................ ................................ ................ 6 Ideeli started off small ................................ ................................ ................................ ................................ ............ 6 Flash sale sites grew quickly ................................ ................................ ................................ ................................ ..... 7 Flash sale sites follow a private -sale business model ................................ ................................ .............................. 7 Ideeli was named the fastest growing private company in the US ................................ ................................ .............. 10 Ideeli's revenues have grown rapidly ................................ ................................ ................................ .................... 10 Ideeli's success can be attributed to a number of factors ................................ ................................ .......................... 11 The retail market for luxury goods was impacted by recession ................................ ................................ ............... 11 Ideeli appealed to designers as well as consumers ................................ ................................ ............................... 12 Ideeli has used social media sites to advertise ................................ ................................ ................................ ...... 12 Ideeli faces numerous issues going forward ................................ ................................ ................................ ............. 14 Recovery from r ecession may slow growth for flash sales sites ................................ ................................ ............. 14 The rapid growth of Ideeli may be the cause of its demise ................................ ................................ ..................... 15 The Ideeli busine ss model may not be sustainable ................................ ................................ ................................ 15 The marketplace is becoming crowded ................................ ................................ ................................ ................. 15 Conclusions ................................ ................................ ................................ ................................ ................................ 17 Diversification may be the key to future success ................................ ................................ ................................ ....... 17 Appendix ................................ ................................ ................................ ................................ ................................ .... 18 Definitions ................................ ................................ ................................ ................................ ............................... 18 Sources ................................ ................................ ................................ ................................ ................................ .. 18 Further reading ................................ ................................ ................................ ................................ ....................... 18 Ask the analyst ................................ ................................ ................................ ................................ ........................ 19 About MarketLine ................................ ................................ ................................ ................................ .................... 19 Disclaimer ................................ ................................ ................................ ................................ ............................... 19 Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 4 LIST OF TABLES Table 1: Total retail sales growth in the US, 2007 –10 ................................ ................................ ................................ ............. 10 Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 5 TABLE OF FIGURES Figure 1: Ideeli homepage ................................ ................................ ................................ ................................ ................. 7 Figure 2: Ideeli menu ta b ................................ ................................ ................................ ................................ ................... 8 Figure 3: Website layout of a flash sale ................................ ................................ ................................ ................................ . 9 Figure 4: Americas: expenditure on luxury branded products ($bn), 2006 –11e ................................ ................................ .......... 11 Figure 5: Top retail display advertisers on social network sites in Q2 2011 ranked by number of disp lay ad impressions (000) ............ 13 Fig ure 6: Americas: expenditure on luxury branded products ($bn), 2010 –15f ................................ ................................ ........... 14 Figure 7: Total unique visitors to ideeli.com (000) ................................ ................................ ................................ ................. 15 Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 6 A NALYSIS Ideeli was founded in 2006 Ideeli was co -founded in 2006 by Paul Hurley and Mark Uhrmacher. The company began as a small enterprise with 15 employees working from an apartment in New York. Ideeli was originally a marketing platform The concept for Ideeli was formed by Paul H urley , who identified two distinct retail trends. Firstly, h e noted that traditional US bricks -and -mor tar retail companies were losing market share to online retailers and off-price stores. Secondly, Hurley recognized that the US retail market is fragmente d and as such brands have been finding it increasingly difficult to engage consumers. Consequently, Hurley created a business that acted as an online marketing platform , a place for brands to generate awareness through giveaways and a small number of limit ed-time sales. Hurley became aware of a Paris -based online private shopping company, Vente -Privee , and decided to base Ideeli on a similar model. Ideeli began to sell branded apparel, accessories , and other goods through it s website in 2008 . This shopping website is for members only, with membership free and non -exclusive. Goods are sold at discounted rates, typically 30 –80% off retail prices. As a flash sale site, Ideeli holds sales for a l imited time, generally no longer than 36 hours, with a number of s ales ending early as goods sell out. Ideeli started of f small Ideeli was originally launched with five employees. This grew to 15 employees all working from an ap artment in New York. In May 2008, the c ompany moved to a bigger building . However, in under a year the company moved again into its current location in Chinatown in New York. The company now has over 250 emplo yees and is continually hiring. Ideeli currently has around 5 .5 million members and more than a thousand suppliers. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 7 Flash sale sites grew quickly Flash sale sites began to appear in the US around the time that the recession began. Since then these private sale websites have been growing in size and influence. Over the years, the number of flash sale sites has been increasing with the introdu ction of sites including Gilt Groupe and Rue La La. Ideeli is one of the sites that ha ve established themselves as destination s for shoppers looking for luxury goods at discounted prices. Flash sale sites follow a private -sale business model Flash sale we bsites conduct time -restricted s ales, generally of luxury brand ed goods. These sales are hidden from the general public by membership requirements. Membership tends to be free but helps to maintain an impression of exclusivity around sales. Members receive alerts via email to inform them of when sales are starting. While daily -deal sites such as Groupon tend to offer one deal per day in a local market, flash sale sites generally hold sales over a limited -time period that feature numerous products from a par ticular brand. Flash sale sites tend to follow a private -sale model whereby the site act s as a distributor, carrying no stock and making a wide margin on sales. The Ideeli model is similar to that of other flash sale sites Ideeli conducts tim e-restricted sales on products including apparel, accessories, home wares , and travel. The product range is comparable to that of its nearest competitor, Gilt Groupe. Sales on I deeli begin at 12 noon each day with members able to view upcoming sales from 10 am. Flash sale s on this site tend to last no more than 36 hours, with sales sometimes ending early when items have sold out. Ideeli offers all -day shipping, allowing members to purchase numerous products throughout the day and only pay for shipping once. In order t o take part in sales on Ideeli , membership is required. Membership is free and must be verified before the consumer enter s the site. Figure 1: Ideeli homepage SOURCE: www.ideeli.com M A R K E T L I N E Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 8 Ideeli often features t ime-restricted sales from numerous designers at any one time, selling a range of products including womenswear, menswear, childrenswear , and home wares . The company buys a small amount of its stock outright. Other parts of its merchandise are taken on cons ignment. Ideeli has over 1,000 suppliers, including luxury brands such as Calvin Klein, Fendi, and Prada . On the Ideeli website, consumers can search for sales by designer or by product. Figure 2: Ideeli menu tab SOURCE: www.ideeli.com M A R K E T L I N E When browsing sale items, consumers are made aware of the time remaining on the sale by a countdown clock located above the sale items. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 9 Figure 3: Website layout of a flash sale SOURCE: www.ideeli.com M A R K E T L I N E Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 10 Ideeli was named the fastest growing private company in the US In 2011, l ess than five years after the company was started, Ideeli was named the fastest growing private comp any in the US by Inc. magazine. Ideeli 's revenues have grown rapidly In 2010, Ideeli 's revenues amounted to $77.7m, representing an increase of 40,882% since 2007. Co -founder Hurley stated that he expected these revenues to be tripled in 2011. Growth in other retail channels in the US has been far less dynamic. Table 1: Total retail sales growth in the US , 2007 –10 Retail channel Growth Ideeli 40 ,882% Online retail 20.7% Bricks -and -mortar retail stores (excluding department stores) 6.2% Department stores 1.7% SOURCE: www.ideeli.com ; VERDICT RESEARCH M A R K E T L I N E Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 11 Ideeli 's success can be attributed to a number of factors The rapid success of Ideeli can be attributed to a number of factors. Vitally , Ideeli 's business model has been successful in boosting consumer demand. Luxury merchandise is offered with significant discounts, emailed direc tly to members, with constraints placed on both time and supply in order to tempt consumers into taking immediate action. Furthermore, Ideeli 's customer base is largely made up of one of retail 's most desirable group of consumers. A spokesperson for Ideeli described members as largely being women with household incomes extending from $50,000 to $250,000 p er year. The retai l market for luxury goods was impacted by recession When Ideeli was first established, the US economy was entering into recession. Consumers were slashi ng their spending with regard t o luxury and designer products. In 2009, the global luxury branded produc ts market declined by around 8.5% . The Americas experienced steep decline The decline in sales of luxury branded products was felt more steeply in the Americas region, with the market declining by 13.7% in 2009 . This represented the negative effect that t he reces sion was having on the market. Figure 4: Americas: expenditure on luxury branded products ($bn), 2006 –11e -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 0 10 20 30 40 50 60 70 80 90 100 2006 2007 2008 2009 2010 2011e Year -on -year growth (%) Total sales ($bn) Total sales ($bn) Year-onyear growth (%) SOURCE: VERDICT RESEARCH M A R K E T L I N E In comparison , flash sale sites were performing well According to Forrester Research, the combined revenue of the top three players in this market, Gilt Groupe, Ru e La La, and Ideeli, exceeded $300m in 2009. As sales from luxury retail stores sank, the leading flash sale sites were seeing huge increases. Furthermore, CNN Money reported that flash sale sites generated approximately $1 bn in sales in 2010, with this figure expected to reach around $6 bn by 2015. While growth for flash sale sites is impressive, it is perhaps worth noting that as this is a relatively n ew ch annel ; high growth from an initial value is to be expected. This is evident in the 40,882% growth seen in Ideeli 's revenues since its Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 12 start -up. Ideeli appealed to designers as well as consumers The CEO of Ideeli, Paul Hurley, has stated that recession acc elerated Ideeli 's growth and led to brands being more interested in working with the company. Ideeli ga ve brands the opportunity to offload excess stock The negative impact of recession on the retail market led to a number of designers and brands being left with excess stock as consumer spending dropped. Prior to recession, any excess merchandise tended to be sold thr ough off -price stor es such as T.J. Maxx. However, as the recession took hold, many of these off -price stores were demand ing larger discounts o n merchandise , some as high as 90%. Furthermore, selling products through these retailers was seen as detrimental to brand image. Such retailers are renowned for their sale items and "bargain bins, " neither of which fit with the high -end or luxury image th at many designers are trying to maintain. Flash sale sites such as Ideeli gave brands a way to offload their excess stock without affecting their brand image . Membership helps to protect the image of the brand , with sales being hidden from the general publ ic. Ideeli gives brands access to customers The appeal of flash sale sites such as Ideeli to brands is the access to consumers, some of whom may not have bought their products before. As such, consumers become educated about particular brands and may choo se to visit a store in the future. Furthermore, for smaller luxury designers who do not have a large number of stores, Ideeli gives them access to customers that they otherwise would be unable to sell to. For example, European clothing brand Desigual chose to use Ideeli in an attempt to raise its profile in the US, where it only has nine retail stores. Over only three sales, the brand sold around 15,000 products through the site. Such brands can gain access to consumers in pa rts of the country where they do not have any stores. Flash sale sites , such as Ideeli , can be seen as a goo d channel to use for designers that want to educate consumers who are not able to afford to buy luxury products at full price. This may include young people whose pa rents are unwi lling to pay full price for designer products for their children. As such, customer aspirations can be developed, which may bring luxury retailers more custom in the future. Ideeli has used social media sites to advertise Social media is widely seen as an increasingly effective way to promote a company, product , or service. Ideeli encourages its members to follow the company on Twitter and Facebook. Through this media they offer information about sales and upcoming events. Ideeli is among the top retail di splay advertisers on social media sites. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 13 Figure 5: Top retail display advertisers on social network sites in Q2 2011 ranked by number of display ad impressions (000) 367500 287267 264883 236863 137156 87938 86870 77848 74576 72061 ebay radioShack Netflix, Inc.

Home Depot J. C. Penney ShoeDazzle.com QuiBid Gilt Groupe Bidcactus Ideeli Inc. SOURCE: www.comscore.com M A R K E T L I N E Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 14 Ideeli faces numerous issues going forward While Ideeli, and the flash sale site s sector as a whole, is still growing, it currently faces a number of issues that threaten its future success. Recovery from recession may slow growth for flash sale s sites In 2011, US consumer spending has risen, particularly in the luxury retail sector. Luxury department stores have been performing well. As such, while recession was a contributory factor in the rise of Ideeli, so to rec overy in consumer spending may reduce t he need for flash sale sites. 2011 saw a good recov ery in the luxury goods market. Figure 6: Americas: expenditure on luxury branded products ($bn), 2010 –15f 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 0 20 40 60 80 100 120 2010 2011e 2012f 2013f 2014f 2015f Total sales ($bn) Year-onyear growth (%) SOURCE: VERDICT RESEARCH M A R K E T L I N E As consumers become more willing to buy luxury items at full -price, flash sale sites may suffer as the need to sell overstock is reduced. Furthermore, as a response to the recession, many designers and brands are pro ducing volumes to reflect expected demand. However, with th e threat of recession looming once again in the US (as of Q2 2012) , it remains to be seen whether consumer spending will be affected once more. Recent economic apprehensions do not appear to have depressed luxury sales in the US as yet. Fourth quarter 2011 sales for many high -end retailers, such as Saks Fifth Avenue and Macy 's, were up. Saks Fifth Avenue stated in September 2011 that its most expensive products were selling especially well. Similarly, Tiffany & Co. reported in August 2011 that its revenues were surpassing expectations. Luxury goods in the US are also seeing a sales boost from tourists from Europe, Asia Pacific, and th e Middle East. This is largely owed to the weak US dollar ensuring that merchandise is considerably cheaper than in the custom ers ' home markets. Nonetheless , if economic conditions worsen and stock markets remain unstable, it is likely that consumer confid ence and spending on luxury products will drop again. Unquestionably , luxury retailers will be better equipped to deal with a ny declines in demand than they were previously, due to more cautious production and inventory policies . As such, should luxury product retail face decline once more, this will not necessarily equate to a rapid growth for flash sale sites as was Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 15 seen previ ously. The rapid growth of Ideeli may be the cause of its demise The fact that Ideeli has grown so rapidly and so dynamically may lead to the company being unable to keep up with securing more volumes of desirable luxury products at low prices. The rapid growth that Ideeli has seen since it began creates the requirement for more quality products to keep the company going and growing. This may be difficult to fulfill going forward as the company finds that it requires greater volumes. The Ideeli business mo del may not be sustainable It is questionable whether flash sale sites, such as Ideeli, are sustainable in the long term. According to American Express Business Insights, spending on flash sale sites grew by 21% in 2011. While this growth is strong, it is far less than the estimated 92% increase seen the year before. However, this may simply be due to the fact that the initial rapid growth of flash sale sites is now settling. Perhaps of more cause for concern is the fact that Ideeli appears to be seeing a decline in unique visitors to its website. Figure 7: Total unique visitors to ideeli.com (000) 420 440 460 480 500 520 540 560 April 2011 (000) April 2012 (000) SOURCE: www.comscore.com M A R K E T L I N E The flash sale business model works by creating a sense of urgency around sales, w ith time being restricted and merchandise being of limited quantities . This serves to encourage consumer s to make impulse purchases . However, consumers may do this on a number of occasions but they are likely to be quick to learn that they ma y be able to f ind the product cheaper somewhere else. Furthermore, flash sale sites, including Ideeli, have tough return policies , which may be offputting for repeat customers. Shoppers visiting Ideeli and other flash sale sites will be looking for high -end goods at ste eply discounted prices. This may simply not be sustainable in the long term. The market place is becoming crowded Since the launch of Ideeli in 2006, the number of competitors has risen considerably. Not only is Id eeli competing with other flash sale sites such as Gilt and Rue La La, but also with sales events in other retail channels such as department stores, off -price stores, and outlet stores operated by brands. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 16 Moreover, a number of traditional bricks -and -mortar retailers are diversifying into online flash sale s. For example, US department store Nordstrom acquired flash sale site Hautelook. In August 2011, US department store Saks launched Saks Fashion Fix, its own flash sale site offering 24 -hour sales with products at up to 70% off. With the continue d crowding of the marketplace, Ideeli may face problems in drawing consumers to its site. Furthermor e, with emails being the primary method of alerting customers to deals, if consumers are subscribed to numerous sites they may soon begin to tune out of ema ils and perhaps unsubscribe . Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 17 C ONCLUSIONS Diversification may be the key to future success The rapid growth of Ideeli in recessionary times painted a promising picture for the future of the c ompany. However, it remains to be seen whether the site can conti nue to be successful as the economy recovers and consumer confidence and spending grow. Furthermore, the growth of other flash sale sites may lead to a consolidation of power, with only th e strongest companies surviving. Despite the fact that flash sale sites, including Ideeli, are facing numerous challenges and threats to their future, growth does appear to be continuing. However, the slowdown in growth does perhaps indicate that flash sale sites are maturing. As a result, a new trend that is beginning to emerge in this sector is the expansion into offering niche products. For example, Gilt has expanded its offerings to include Gilt Men, Gilt Children, Gilt Home, Gilt Taste ( food and wine), Gilt City (local deals), and Jetsetter (travel deals). Furthermore, Gilt has even begun to offer high -end products that are not discounted at all. In order for Ideeli to survive, the company may need to diversify its business or offerings. Evidenc e of this can already be seen with the introduction of travel deals on the site. Furthermore, Ideeli might benefit from focusing on relationships with brands, which may be strengthened by offering customer data to suppliers. Whichever way the company chooses to adapt, it is clear that some method of diversification is required to keep up with other competitors in the market. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 18 A PPENDIX Definitions Flash sale: a restricted time period during which goods are sold at a discounted price. Off -price stores: retail stores that sell products at prices lower than other retail stores. Sourc es ComScore (2011) State of the Internet www.inc.com/magazine/201109/inc -500 -paul -hurley -ideeli.html www.inc.com/magazine/201109/inc -500 -paul -hurley -ideeli -americas -fastest -growing -company.html www.businessweek.com/tech nology/content/nov2009/tc2009114_771888.htm http://images.businessweek.com/ss/09/11/1104_private_online_shopping_sites/12.htm www.usatoday.com/money/industries/retail/story/2011 -11 -17/ideeli -fashion -bargain -site/51275578/1 www.telegraph.co.uk/finance/personalfinance/consumertips/8541666/How -to-bag -a-bargain -in-a-flash.html www.businessoffashion.com/tag/f lash -sales www.businessinsider.com/ideelis -ceo -shares -what -it-took -to-become -americas -fastest -growing -company -2012 -3 http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=39527740 http://blog.ideeli.com/todays -features/2010/9/21/introducing -ideeli -travel.html www.ideeli.com/pages/about_us http://moneyland.time.com/2011/12/05/flash -fashion -101 -how -to-make -the -most -of-gilt -rue -la-la-and -other -sale - sites/#ideeli www.cnbc.com/id/47507737/Time_for_Flash_Sales_to_Adapt_or_Die http://money.cnn.com/2012/04/27/pf/flash -sales/index.htm Further reading Verdict Ret ail (2011) Global Luxury Retailing , November 2011, CM00080 -007 MarketLine (2011) Industry Profile: Online Retail in the United States , September 2011, MLIP0172 -0008 MarketLine (2012) Industry Profile: Apparel Retail in the United States , June 2012, MLIP0535 -0033 MarketLine (2011) Industry Profile: Apparel, Accessories & Luxury Goods in the United States , May 2011, MLIP0240 - 0006 Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 19 Ask the analyst We hope that the data and analysis in this brief will help you make informed and imaginative busines s decisions. If you have any questions or further requirements, MarketLine 's research team may be able to help you. The MarketLine Research team can be contacted at [email protected] . About MarketLine At MarketLine, we deliver accurate, up -to-date insights on over 30,000 companies, 300 industries, and 215 countries, as well as the latest news and financial deal information from within your market and across the globe. Established in 1997 when the Internet was in its infancy, we recognized the need for a convenient an d reliable data service to help o ur clients understand local and global markets and the companies operating within them. In today 's information -rich world, sifting fact from fiction to pick out what 's relevant and what 's up to date has become the new "holy grail " in business information p rovision. Our 170 dedicated research professionals aggregate, analyze, and cross -check facts in line with our strict research methodology, ensuring a constant stream of new and accurate information is added to MarketLine every day. Disclaimer All Rights Re served. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any fo rm by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the pu blisher, MarketLine. The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Pleas e note that the findings, conclusions and recommendations that MarketLine delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such MarketLine can accept no liability whatever for actions taken based on any information that may subs equently prove to be incorrect. Ideeli Case Study ML00007 -008 /Published 07/201 2 © MARKETLIN E THIS PROFIL E IS A LICENSE D PRODUC T AND IS NOT TO BE PHO TOCOPIED Page | 20 MARKETLINE | 119 FARRINGDON ROAD | LONDON | EC1R 3DA T: +44 161 238 4040 | F: +44 161 238 4141 E: [email protected] WWW .MARKETLINE.COM Copyright of Ideeli: The Growth of the Flash Sale Website is the property of MarketLine, a Datamonitor business and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use.