The innovative online platform that gives shoppers great discounts and helps retailers manage excess stock
Founders: Stuart McClure, Mark Solomon, Dave Bishop
In essence, Love the Sales brings a whole world of online discounts (on designer fashion, accessories, homeware, apparel and more) together in one place, making it easy to find what you want at a great price.
However, what makes this rapidly growing brand special and what has earned it multiple Startups 100 entries, (most recently, it was 17th in 2018) is how it does it.
Love the Sales is powered by a specially developed in-house artificial intelligence called Minerva, that analyses the inventory of around 1,000 of its retail partners, to assign standard attributes. What this means is that retailers can sell their excess stock faster, and for more money than they would have otherwise been able to.
This helps to tackle a crisis in fashion retail where margins are stretched to breaking point, 30-50% of all stock is being discounted on any given day, and, in 2020 alone, L.K. Bennett, Cath Kidston, and Warehouse all went out of business. And equally, if not more important, it also helps to reduce the piles of unsold clothes that are simply burnt every year.
Minerva also helps with the company’s marketing efforts, ensuring that the 4.5m+ shoppers using Love the Sales are alerted when items they want go on sale.
With the aid of this cutting-edge tech, Love the Sales makes shopping easier and cheaper for anyone and everyone – expect to hear far more about this stylish startup in the years to come.