Monday, December 10, 2007

Newegg Outperforms Post-Thanksgiving Retail Forecasts

Online Electronics Merchant Credits Increased Consumer Confidence for Its Record-Breaking Sales Growth During First Weekend of Holiday Shopping Season

CITY OF INDUSTRY, CA--(Marketwire - December 3, 2007) - Newegg Inc., the world's largest privately owned online retailer, defied Black Friday/Cyber Monday retail sales predictions by posting 48% year-over-year growth in revenue during the traditional kickoff to the holiday shopping. Strengthened consumer confidence in online security, paired with newegg.com's reputation for quality service and timely delivery, brought more than 1 million visits to its site on Black Friday alone.

On average, online retail spending grew on 22% on Black Friday and 21% on Cyber Monday over 2006, according to comScore, a leading Internet market researcher. On Cyber Monday alone, newegg.com experienced 89% year-over-year growth.

"While we were confident that Black Friday and Cyber Monday would be strong, the actual results exceeded even our own expectations," said Bernard Luthi, vice president of merchandising, Newegg. "What it tells us is that consumer confidence in online purchasing is stronger than ever."


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Jason Kiwaluk

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Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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