The Company Enjoys First $1 Million Day, Highest Monthly Traffic, and Biggest Shipping Day
SAN FRANCISCO, Dec. 26, 2001-- RedEnvelope, Inc., the premier multi-channel specialty gift retailer, announced today that holiday sales nearly doubled over last year, exceeding the company`s expectations. Many records were set as well, such as the first one million dollar day, the "one millionth" gift shipped on December 14, and a monthly traffic increase of almost 30 percent to three million user sessions in December. In addition, The Wall Street Journal rated RedEnvelope among the top 10 favorite e-commerce sites as selected by consumers in a survey.
"We are particularly pleased with our sales results this holiday season in light of these difficult economic times," notes Martin McClanan, Chief Executive Officer. "Our success certainly validates the convenience and style that RedEnvelope brings to gift giving. As we enter the Valentine`s Day season, we expect to see continued sales momentum driven by high customer conversion rates and our distinctive merchandise."
RedEnvelope expanded its reach significantly by increasing circulation of the catalog by 40 percent to approximately six million this year, including three separate holiday catalogs mailed beginning in November. The catalog remains the center of the company`s marketing campaign and a key driver of new customers to the Web site. As a result, the company has almost tripled their customer base to 750,000 from 250,000 last year. In addition, proprietary products grew to represent 50 percent of all products in both the online store and catalog, reflecting the merchandising team`s continued emphasis on product innovation.
"We pride ourselves in providing our customers with unique product offerings that make gift-giving a more enjoyable and meaningful experience," says Hilary Billings, Chairman and Chief Marketing Officer. "Customers enjoy our easy-to-navigate categories which guide shoppers to the right gifts, and trust that when they shop at RedEnvelope, they are getting a reliable brand that will deliver their gifts on time with style and elegance."
The company delivered packages with a more than 99 percent on-time rate. For the third year in a row, the strategically placed warehouse, on the tarmac of shipper Airborne Express` hub in Ohio, allowed the retailer to fulfill orders up until midnight EST, December 21. RedEnvelope packed and shipped approximately 250,000 packages this month, a 67 percent increase over last year.
About RedEnvelope, Inc.
Based in San Francisco, RedEnvelope`s refined selection of stylish merchandise and simple, elegant design makes the process of finding, selecting and purchasing a gift online effortless. The name comes from a tradition in many Asian countries -- which lives on today -- of presenting special gifts in a red envelope. In the spirit of this tradition, gifts purchased from RedEnvelope are accompanied by a personalized message in a red envelope. Gifts for everyone can be found at RedEnvelope including the Holiday Celebrations basket for entertaining, a global positioning tool for him, monogrammed slippers for her, and many others. Several unique features help guide customers to the gift they want including: GiftSearch, GiftReminder, ExpressGifts (guaranteed overnight delivery), online customer service, multiple addressing and an inventory system that tracks in real-time to ensure that every item featured on the site is available.
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