Selonce is an online multi-store shop with a flash sale concept that helps brands reevaluate stock through new markets and connects them with consumers who are searching for discounted quality products.
The shop operates on a free-membership model, which enables it to provide the best value to members, not only price-wise but also by creating personalized offers based on individual preferences and online behavior.
Selonce online Flash Sale shop is offering products in 4 categories – sports, fashion, home & garden, and electronics with discounts from 30% to 80%. To date, it has confirmed cooperation with more than 250 brands. With new brand sales refreshed every day, the selection of products is diverse and for all styles and needs. Selonce.com online shop is currently available in the English, Slovenian, and Croatian language and delivers products across all European Union.
A secret wish – to enable friends and family access to good deals on quality and world-known brands from neglected markets in the heart of Europe
The founder, Petar Jokić, was a professional water polo player who left Slovenia when he was 19 years old and settled in France where he finished his professional career. More than 10 years ago he was first introduced to the concept of flash sales in France and he immediately became an enthusiastic buyer. However, he soon realized that flash sale sites were, and still are today, mainly focused to sell on West and North European markets. When Petar visited his family and friends in Slovenia, his birth country, they asked how he could afford to buy such luxury world brands, from which many still don’t have physical stores in Slovenia and operate with a limited online sale presence. To make them understand, he wanted to show them flash sale sites, but he was disappointed to discover that they barely focus on selling in Southern and Eastern European markets, and do not even ship products to Slovenia and outside the EU. From that day on, his secret wish was to enable his friends and family to get good deals on quality and world-known brands. And, because after 10 years, the possibility of purchase over European online flash sales was still limited in some non-EU countries, his ambition to build the first flash sale site on Southern and Eastern European markets started to realize.
When Selonce d.o.o. was founded in the fall of 2019, Petar invited Aljoša Kirič, a communication expert in charge of marketing activities, to co-own the company and develop his business idea. As early as December of the same year, they set up a landing page with the aim to attract future members and to present its business model t to the new Southern and Eastern European markets. In an 8-months period, the landing page gained more than 13,000 members and attracted more than 250 world-famous brands to participate.
Feedback from members and potential partner brands was enormous, as both wanted to meet halfway. Consumers on one side were looking for good deals with brands, while brands were looking for new markets to reevaluate their stock.
A solution to sell overstock from brands and to help consumers access quality brands for a comfortable price
Our solution addresses two segments to this problem, the first being companies that sell physical products and struggle with the cost of storing unsold inventory throughout the year. For example, H&M had $4,3 billion in unsold products in 2018. And this well-known brand is not the only one. 90% of businesses worldwide sell physical products at a financial loss due to the problem of accumulating unsold products. Even big, prestigious, and high-quality brands. Because they have physical outlet centers or official stores in fewer locations, sometimes even more so. In Europe, for example, stocking textiles means an additional cost of as much as 8% of the purchase price of the product. In 2018, this resulted in $210 billion estimated costs of unsold inventory. On a worldwide level, Australian Circular Textile Association is estimating that approximately 30% of clothing made worldwide is never sold. Selonce offers a solution to sell unsold inventory from brands in short sales cycles and high discounts, all in a matter of 10 days.
The second segment are e-commerce users, which amounted to 597.4 million in Europe in 2019, and, according to statistics, there will be 15 million more each year. E-commerce users have a problem with the unavailability of products in the country of residence and the high price of the product in physical trade. Especially in Eastern European markets, the demand is increasing. If the growth rate of eCommerce revenue is stagnant in Western and Northern Europe, this is not the reality for the other parts of the continent. Markets of Southern and Eastern Europe are unsaturated and have a revenue growth rate of up to 10.4% (Italy), followed by Slovenia (8.4%), Hungary (7.6%), Croatia (7.3%) and Austria (7.2%). Given the fact many famous worldwide brands are not yet present with physical stores there, Selonce online shop is a great way to test consumers’ affinity towards a new brand.
With new sales refreshed every day, the selection of products is diverse and for all styles, and needs
All offered products are reduced from the regular price by 30% to 80%. There is a new sale added every day and lasts from 3 to 5 days max. To date, Selonce has confirmed cooperation with more than 250 brands from 4 categories. The online shop operates on a free-membership model. The advantage of membership is that Selonce sends an e-mail with a list of brands in current sales every other day (sales starting today, sales lasting a few more days and sales, coming in a couple of days). It’s advised to purchase products soon after the sale starts, as interest is high and stocks run out quickly.
Selonce online Flash Sale shop is currently available in the English, Slovenian, and Croatian language and delivers products across all European Union. In the next few months, it will be available in multiple languages and soon on a mobile application.
Our vision is to become the first visited shop when looking for a personalized and discounted deal on the world’s top brands.