Online Retailers Tap Social Media with Flash Sales

 News & Trends: Are the majority of successful online retailers using social media to their full advantage in promoting deals? According to the findings of a market analysis by Interpret, the answer is no. While 22 out of the top 25 online retailers offer a form of a "flash sale" on their websites, they have yet to fully tap in to the social-media tool being called collective buying. 

The study, New Media Measure, sites Groupon, Gilt, and ideeli are examples of online retailers that are utilizing collective-buying promos most effectively. An online retailer activates a flash sale, which leads to collective buying, by presenting a promotion online before the discount is real. In order for the discount to be valid, a specific number of consumers must agree to buy the coupon or the item(s) at that discount. 

Read more here.