The home décor flash sales market is heating up as companies like Gilt Groupe, MyHabit, HomeSav and more scramble for the coveted position at the top of the pyramid. So how is One Kings Lane staying ahead of the curve?
CEO Doug Mack points out that One Kings Lane got a headstart and has the advantage of having been in the home décor flash sales business the longest.
But more importantly, he notes, is the fact that One Kings Lane is focused exclusively on home décor. While competitors are also offering flash sales on apparel, travel, food, pets, and more, One Kings Lane has stayed focused on the home décor space.
Interestingly, while other flash sales companies like Gilt Groupe are branching out into full-price sales, Doug Mack doesn’t see One Kings Lane doing the same.
“We always think ‘what is the one thing we’re doing that’s meeting a customer need that has not been met?’ …We feel that everything we do needs to fill a void in the market.” So while full-price sales make sense for a Nordstrom’s, anyone can do it. But One Kings Lane isn’t looking to be a Nordstrom’s.
We also discussed the fact that a whopping 75% of all One Kings Lane’s sales come from repeat purchases, and Mack explained that One Kings Lane has a philosophy of “selling an item twice,” meaning it sells the item first on the site, and then it follows up in the post-purchase phase by making sure the item is high-quality and delivers on its value promise.
“The customer has to feel that they got the value that we promised, and that’s the number one thing that will keep people coming back again,” he said.
Check out the interview above—and check out this video on how to fold a fitted sheet! Watch closely, because this man has magic hands.