Shop.com sees 100 percent growth rate in 2006
Multi-merchant e-commerce site Shop.com hit 100 percent growth in revenue year over year in 2006, with a record traffic level of 7.75 million unique visitors in December, according to Nielsen//NetRatings.
For the year ending Dec. 31, 2006, Shop.com grew its user sessions by 53 percent, and increased its returning visitor rate by 68 percent year over year and 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. In addition, Shop.com added 4 million products to its marketplace during 2006, bringing the total number of products offered close to 10 million.
Since sales are on the rise, Shop.com plans to build its brand, add user interface enhancements and enhance customer interactions, according to Mr. Goldstein. E-commerce veteran Mondy Beller has come on board to help steer these new initiatives as the new senior vice president of marketing.
The shopping brand also plans to continue investing in multi-merchant functionality, and will be at Shop.org next week to meet with prospective merchants.
Expect to see continued growth from Shop.com for years to come, Mr. Goldstein said.
"We have invested heavily in solidifying selected merchant partnerships during the past couple of years," he said. "Our future investments will keenly focus on perfecting our vast multi-merchant functionality, adding premier brands and investing in strategic partnerships that drive demand and brand awareness … Also keep an eye on our initiatives in partner and affinity marketing."