In its second-largest acquisition, Amazon buys the company for $970 million.
October sales grow 50% and traffic doubles over last year at eBags.com, possibly the result of consumers’ staying closer to home, eBags tells internetretailer.com.
Although there is great debate among researchers and analysts as to whether consumers will shop more online than offline this year due to the threat of terrorist attacks, some retailers are seeing big traffic increases. Colorado-based eBags.com has seen substantial jumps since September 11, Peter Cobb, vice president of sales and marketing, tells internetretailer.com. "In October, sales were up 50% over last October and traffic has doubled," Cobb says.
He believes consumers may be shopping more online because they don¹t want to be in crowded malls due to security concerns following the terrorist attacks. Cobb also noted that some offline competitors are reporting substantial sales decreases, while eBags is growing.