Shop.com Has Record Year
Shop.com, a multi-merchant ecommererce site reached 100 percent growth in revenue year over year in 2006. The company also had a record level of traffic in December with 7.5 million unique visitors according to Nielsen//NetRatings.
For the year ending December 31,2006, Shop.com increased its user sessions by 53 percent and raised its returning visitor rate by 68 percent year over year as well as its repeat buyer rate by 23 percent.
“Consumers told us that they feel comfortable buying from merchants they may not know but who participate in a multi-merchant marketplace that guarantees customer satisfaction,” said Ken Goldstein, CEO at Shop.com, Monterey, CA
The average order value grew by 8 percent last year. Shop.com also added 4 million products to its marketplace during 2006; the total number of products now offered is close to 10 million.
Since they had a record year the company plans to build its brand, add user interface enhancements and improve customer interactions. They will continue to invest in multi-merchant functionality and will attend FirstLook an event for Internet and multi-channel retailers hosted by shop.org where they will meet with prospective merchants.
“We appreciate all our customers who bought their gifts during the holiday season as well as those who shopped with us again and again throughout the year,” Gold stein said.” The customer experience has always been our priority. And last year was no exception. In addition to increasing our product offerings by close to 70 percent, we kept our site up at effectively 100 percent uptime from Thanksgiving through Christmas Day. This accomplishment speaks to the strength of our technology, our team here and our merchant partners.”