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.