Members-only fashion site BrandAlley has seen sales jump by more than two-thirds so far this year, thanks to the growing consumer appetite for luxury goods on a budget.
In the first nine months of 2011, the private sales site saw turnover rise to £23m, growth of 70% compared to the same period last year. New customers rose by 75,000 during the same period of time, while the average number of unique visitors grew by 240% in the first half of the year.
Rob Feldmann, chief executive of Brand Alley UK, says an “innovative” social media strategy has helped boost online visitors to the site. He said: “Shopping habits are changing dramatically and the fact that consumers are looking for a luxury lifestyle on a budget has driven the rise of the savvy shopper; as the market leader in online private sales, BrandAlley is ideally placed to fulfil this demand.”
Our view: It comes as no surprise that BrandAlley has seen fast growth in these straitened times. This summer just gone saw private sales homewares site Achica attract investment from Balderton Capital, and with figures like these we no doubt can expect to see more funding coming into this particular retail niche.
