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With conversion rate of 7%, Newegg is expecting 40% growth this year
Newegg.com, an online retailer of computer components and consumer electronics, has a conversion rate of 6% to 7% on an average of 400,000 visits per day. It had sales volume of $1 billion last year and expects to do at least $1.4 million this year.
Quality products at competitive prices have generated a conversion rate of 6% to 7% for Newegg.com, an online retailer of computer components and consumer electronics, Howard Tong, vice president of marketing, tells InternetRetailer.com. Newegg has an average of 400,000 site visits per day.
“We feel we have a great value proposition,” he says. “We have a breadth and depth of products, so it’s a one-stop shop.” Newegg sells computers and computer-related products such as hardware, software and computer parts, as well as consumer electronics and networking and wireless products.
In addition, Newegg has economies of scale which it passes along to consumers in the form of lower prices, Tong says.
Newegg ships between 20,000 and 25,000 orders per day, which equates into about 45,000 packages daily, he says. 98% of those orders are shipped within 24 hours. Newegg has seven warehouses nationwide and uses Federal Express exclusively for shipments, Tong says.
Newegg, which was launched in 2000, had sales volume of $1 billion last year and expects to do at least $1.4 million this year, Tong says. “We still see very healthy growth,” he says.