Company breaks its Cyber Monday GMV record for fourth consecutive year
Research Triangle Park, NC – DATE – ChannelAdvisor, a solution provider that enables online retailers to improve efficiency and increase revenue, today announced record-breaking gross merchandise value (GMV) increases for the commencement of the holiday season. GMV for Black Friday, November 27, 2009, tipped just over $17 million, an eight percent year-over-year increase for ChannelAdvisor. Cyber Monday, occurring November 30, 2009, resulted in GMV of $18.5 million, a ChannelAdvisor record and a three percent increase over Cyber Monday 2008.
“Major trends we’ve seen so far this holiday season include Amazon’s continued reign as the forerunner in online sales, retailers and shoppers turning online earlier (Black Friday and over the holiday weekend), and the gradual rise in the market share of online shopping,” said Scot Wingo, ChannelAdvisor CEO. “This year especially reinforced these trends as retail stores carried less inventory to avoid surplus, leading shoppers to Amazon and the internet for hard-to-find items.”
ChannelAdvisor customer eBags.com, a leading online seller of luggage and handbags, has found early success this holiday season using ChannelAdvisor’s Comparison Shopping Engine (CSE) and Marketplaces solutions.
“This holiday season is shaping up very well for eBags,” said Peter Cobb, co-founder and senior vice president of eBags.com. “Not only did we shatter our Black Friday record with 66 percent growth, we also reported a record day with a 52 percent increase over last Cyber Monday.”
Cyber Monday Highlights
- Buy.com sales showed strong growth, but Amazon held steady in the number-one slot with more than 100% y/y growth
- eBay’s fixed prices continued to outperform auctions
- Google Adwords increased 36.8%, continuing to take share from Yahoo!
- Paid Search as a category performed well on Black Friday and grew throughout the holiday weekend, peaking on Cyber Monday
Comparison Shopping Engines
- Bing Shopping saw a > 400% year-over-year increase driven primarily by its popular cash-back program
- Become.com and Gifts.com are newer engines that pulled an impressive amount of CSE share
- Overall, ChannelAdvisor’s Comparison Shopping Engines increased 23% over Cyber Monday 2008, indicating that consumers are actively shopping for the best deals
ChannelAdvisor Complete™ Thanksgiving through Cyber Monday highlights by e-commerce channel:
- Marketplaces – (Amazon, eBay, Buy.com, etc.) 14% year-over-year GMV growth
- Paid Search – (Google, Bing, Yahoo!, Ask.com, etc) 12% year-over-year GMV growth
- Comparison Shopping Engines – (Google Product Search, Shopping.com, Shopzilla, etc.) 10% year-over-year GMV growth