MyBuys Retailers Did Less Holiday Discounting than Last Year
By Ina Steiner
MyBuys clients sold more merchandise at full price instead of discounted pricing in December 2010 compared to last year, which led to improved margins. MyBuys provides personalization services for over 300 multi-channel retailers, including 69 of the Internet Retailer Top 500. The company released statistics that showed the following:
- Revenue from full-priced items increased 15.6% compared to the same period last year;
- There was a 4.8% decrease in the number of orders with promoted items;
- The average order value was 8% higher for orders with personalized products in the cart.
December was exceptional for the ecommerce industry as total revenue increased 8.3% overall on the strength of better than expected holiday online shopping sales, according to the company, which said there was a shift in shopping behavior from promotional discounting to a more convenient, personalized experience.
"As we start 2011, we continue to see improved comps for online retail as retailers continue to sell more utilizing merchandising to sell the right product to each consumer than being reliant upon promotion as was the last two holiday seasons," said Robert Cell, CEO of MyBuys. "Retailers are healthy as a whole and are investing in technology to create future growth including mobile shopping and personalization."
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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