LuxeYard Surpasses 700,000 Member Milestone Sales Transaction Rate per Visitor Grows as Company Focuses on Higher Quality Marketing Channels and Streamlines Checkout Process
LOS ANGELES, July 17, 2012 /PRNewswire/ -- LuxeYard, Inc., (OTCQB: LUXR), the fast-growing boutique luxury flash sale site, today announced it has surpassed the 700,000 member milestone. The company attributed the achievement primarily to an increased focus on targeting higher quality marketing channels as well as new site functionality aimed at streamlining the shopping experience.
"Using a variety of marketing channels and focusing our messaging on individual member wants and needs we have been able to boost membership as well as the number of transactions per visit," said LuxeYard CMO, Joshua Thompson. "Member feedback has been critical and we are implementing changes to our core e-commerce interface and marketing strategy to accommodate their suggestions for an enhanced experience with LuxeYard. For example, a recent, relatively simple change to our checkout procedure has led to a significant increase in our e-commerce conversion rate."
LuxeYard believes that by listening to its customers it will be enabled to create a better online shopping experience. Thus, it has updated its messaging platform to focus on an individual's various lifestyle stages versus simply luxury for everyone. By reframing how its customer base can access high quality goods and products at competitive prices on the LuxeYard website, the company plans to carve out a larger share of the e-commerce market, estimated at over $44 billion per quarter in 2012.
"We want our members to know that they can have access to luxury goods and products at any and every phase of their lives," continues Thompson. "There no longer is any need to compromise on lower quality goods to achieve low pricing. Today's smart shopper understands that quality endures, and LuxeYard has become the online destination for quality products for the home, wardrobe or baby, at significantly reduced prices. For example, families can buy a stroller anywhere, but if they come to LuxeYard, they'll be assured that it will cost less than what they would typically find at a traditional retail store, and be of great quality, allowing them to have the luxe factor while avoiding the luxe price.
"These recent changes are part and parcel of a fast growing enterprise, where we need to regularly stay one step ahead of market dynamics," said Braden Richter, CEO of LuxeYard. "We have a fundamentally rock solid business with a well-tuned engine for building organic growth and an active acquisition strategy to further diversify our business and help us achieve our revenue and profitability goals."
LuxeYard is a members-only flash sale site for luxury home furnishings, decor and fashion that offers access to unique products sourced by a seasoned team of buyers at a fraction of retail prices. LuxeYard is the pioneer of Concierge Buying, which gives members the power to determine what items will be sold on the site, and Group Buy which allows them to lower the price by sharing sale items with friends. Along with its veteran retail, e-commerce and digital marketing management team, LuxeYard partners with celebrity Trendsetters and design and fashion industry insiders to deliver a curated buying experience from a unique point of view to its members. To join the LuxeYard community, visit www.LuxeYard.com.
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This press release contains forward-looking statements about our financial performance, which involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the factors included under the headings "Risk Factors" and "Cautionary Note Regarding Forward Looking Statements" on Form 8-K, filed with the Securities and Exchange Commission on November 15, 2011, a copy of which may be obtained by visiting the SEC's web site at www.sec.gov. LuxeYard's actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance.
SOURCE LuxeYard, Inc.