LuxeYard Launches Luxury Home Furnishings Flash Sales

January 23, 2012  by in UnCategorized   

By Home Furnishings Business in Internet on January 24, 2012

Luxury home furnishings and decor flash sale site LuxeYard launched what it calls a unique approach to home furnishings flash sales on Tuesday.

LuxeYard, based in Los Angeles, has $3.5 million in financing from private investors, according to an announcement of the launch. Its two flash-sale e-commerce concepts--Group Buy and Concierge Buying--are designed to shift pricing and sourcing power from retailers to consumers, while personalizing the shopping experience for each member.

Group Buy offers LuxeYard members the ability to push product prices down for featured Group Buy items. Members leverage social media and social networks to encourage others to purchase a product, which in turn drives the price down. For example, members may purchase an item for $100; share the information on Facebook, encouraging others to buy the same product; and two days later find out that customer demand, which they helped drive, dropped the price to $50. Everyone who purchased the Group Buy Item will pay the final lowest price.

Concierge Buying lets LuxeYard members request items they would like to purchase at a discounted price by posting photos to one of LuxeYard's social media platforms. The most popular product will be voted up, via a crowdsourced approach, and LuxeYard will then source either the exact product, or one known to be comparable or perhaps higher quality, and offer it on the site.

"Our team identified a significant hole in the explosive, flash sale marketplace, realizing the customer experience was not interactive, community-driven or personalized," said Braden Richter, CEO of LuxeYard. "We empower consumers with our Group Buy and Concierge Buying concepts, shifting the sourcing and pricing of goods to the consumer. LuxeYard is combining the best of a flash sale with a unique e-commerce platform and an engaging interactive community."

LuxeYard also has other features:
* LuxeLife Trendsetters: This community of design professionals and influencers provide design curation, offering insights, product recommendations and special events exclusively for LuxeYard members. Members can ask this community questions and receive guidance when looking for designer home products. Founding LuxeLife Trendsetters include Daniella Clarke, founder of Frankie B Jeans; celebrity designer Faye Resnick; and New York designer Bobby Berk. 
* Room Planner: This is designed to help consumers make educated purchase decisions. Consumers can enter room dimensions and/or upload a photo of the room in which they'd place the piece to get a sense for how it fits with the current décor and layout before they buy.
* LuxePop: This feature lets shoppers across the country browse the aisles of boutique stores at exclusive LuxeYard prices.

LuxeYard says it offers members home furnishings and decor at up to 70 percent off retail prices by holding no inventory or incurring warehousing costs--manufacturers will ship products directly to consumers.