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Shopping Revolution: The Inside Story of How Gilt Transformed Retail

John Milton

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Published in By Invitation Only: How We Built Gilt And Changed The Way Millions Shop

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In the ever-evolving world of e-commerce, one company stands out as a true pioneer: Gilt. Founded in 2007, Gilt revolutionized the way millions of people shop, offering exclusive deals on luxury fashion and home goods. In their book, "How We Built Gilt and Changed the Way Millions Shop," founders Kevin Ryan and Alexandra Wilkis Wilson candidly share the compelling story of Gilt's rise to success and the innovative strategies that drove their transformative impact on the retail industry.

The Genesis of an Idea

The genesis of Gilt lies in a simple yet profound insight: people are eager to access luxury brands at exceptional prices. Ryan and Wilkis Wilson realized that traditional retail models, with their high markups and limited selection, were failing to meet this growing demand. Inspired by the success of flash sale sites like HauteLook and Rue La La, they envisioned a platform that would offer coveted designer items at deep discounts for a limited time.

By Invitation Only: How We Built Gilt and Changed the Way Millions Shop

by Alexis Maybank

4.4 out of 5

Language	:	English
File size	:	915 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Screen Reader	:	Supported
Print length	:	285 pages

Building a Winning Team

The founding team of Gilt was a powerhouse of talent and experience. Ryan, a serial entrepreneur with a knack for building successful online businesses, brought his expertise in technology and marketing. Wilkis Wilson, a former fashion editor at Style.com, contributed her deep understanding of the luxury fashion industry and her keen eye for identifying promising designers. Together, they assembled a team of passionate and visionary individuals who shared their vision for changing the retail landscape.

Creating a Unique Customer Experience

From the outset, Gilt prioritized providing an exceptional customer experience. They carefully curated a selection of high-quality products from top designers, ranging from iconic fashion pieces to exclusive homeware. The website was designed to be user-friendly and visually appealing, with high-resolution images and detailed product descriptions. To foster a sense of exclusivity, Gilt employed a flash sale model, offering limited quantities of each item for a strictly limited time. This approach created a sense of urgency and fostered a loyal following of shoppers who eagerly anticipated each new sale.

Harnessing the Power of Social Media

Gilt recognized the immense potential of social media as a marketing tool. They established a strong presence on platforms like Facebook, Twitter, and Instagram, leveraging them to engage with customers, promote upcoming sales, and showcase featured products. By creating a vibrant and active online community, Gilt built a powerful word-of-mouth marketing engine that further fueled its growth.

Empowering Brands and Designers

While Gilt provided consumers with exceptional deals, it also played a vital role in empowering brands and designers. By partnering with top fashion houses and emerging talents, Gilt introduced their products to a broader audience and helped them reach new customers. The platform became a valuable avenue for designers to showcase their collections, gain exposure, and build their brand reputation.

The Challenges and Triumphs

The path to success was not without its challenges. Gilt faced intense competition from established retailers and other flash sale sites. The team had to constantly innovate and refine their strategies to maintain their competitive edge. Additionally, they encountered logistical hurdles in managing a complex supply chain and ensuring timely delivery of products. However, through unwavering determination and a relentless focus on customer satisfaction, Gilt overcame these challenges and emerged as a dominant player in the luxury e-commerce market.

A Lasting Impact

The impact of Gilt on the retail industry has been profound. By democratizing access to luxury fashion, they broke down traditional barriers and made exclusive brands more accessible to a wider range of consumers. Their innovative flash sale model revolutionized the way people shopped, introducing a sense of urgency and excitement to the online retail experience. Gilt also played a crucial role in fostering a new generation of fashion-conscious consumers, who embraced the opportunity to acquire designer pieces at irresistible prices.

In "How We Built Gilt and Changed the Way Millions Shop," Kevin Ryan and Alexandra Wilkis Wilson provide a gripping account of the vision, innovation, and determination that led to the creation of a retail powerhouse. Their story serves as an inspiration to entrepreneurs and business leaders alike, demonstrating the transformative potential of bold ideas and relentless execution. As the e-commerce landscape continues to evolve, Gilt's legacy as a pioneer in the industry will undoubtedly continue to inspire future generations of retailers.

By Invitation Only: How We Built Gilt and Changed the Way Millions Shop

by Alexis Maybank

4.4 out of 5