FASHIONISM GIVES CASH BACK: New online marketplace Fashionism.com is giving cash back to its customers via a percentage of the purchase or promotional codes. Anthony Khera, founder of the site and a former Ralph Lauren marketing executive, said the site “rewards those customers who would rather buy at full-price because they don’t want to wait months until there is a sale.” Khera said the site negotiates a commission rate with the brands it works with, and then passes a percentage back to its customers. While the average percentage off is 7 percent, it can range as high as 20 percent for certain inventories or categories that brands want to move out.
There are about 200 participating brands, with an average order value north of $350. Khera also noted that about 75 percent of first-time buyers on the site make another purchase within the next month. The percentage given back is placed in the user’s fashionism account until it reaches $100, and then the funds are transferred to a PayPal account at the user’s election. The funds are reversed when merchandise is returned. In addition, Fashionism makes a contribution to Feeding America for every transaction booked on its site. “Through our research of the affluent buyer, good value for the money is more important than the price. They’re going to buy anyway, and they like to be rewarded for what they spend,” Khera said.
Current cash-back offers include: Saks Fifth Avenue, 5 percent; Sephora, 5 percent; Bloomingdales, 6 percent; Alexis Bittar, 4 percent; Helmut Lang, 12 percent; Burberry, 6 percent; Moda Operandi, 5 percent.