Vermont Teddy Bear posts a 32% increase in 2005 web sales
The Vermont Teddy Bear Co. Inc., which operates four e-commerce sites and is actively planning another, increased web sales by about 32% for its just closed 2005 fiscal year.
For 2005, Vermont Teddy Bear, No. 174 in the Internet Retailer Top 400 Guide to Retail Web Sites, had total e-commerce sales of about $37 million, compared with $28 million for fiscal 2004. The web accounted for 55.2% of FY 2005 total sales of $67 million up from 50.1% of 2004’s total sales of $55.8 million. “The year exceeded expectations,” says Tom Funk, web manager for Vermont Teddy Bear.
Vermont Teddy Bear now sells online through four web stores at VermonTeddyBear.com, calyxandcorolla.com, PajamaGram.com and TastyGram.com. There are plans to launch a new brand and e-commerce site within the next several months, but details, including brand name and merchandising strategy are still forthcoming. Vermont Teddy Bear has been selling online since 1997 and has diversified with good results over time. For instance in Q4 2005, online sales for VermonTeddyBear.com and PajamaGram.com were up by 16% and 46%, respectively, Funk says.
The company’s biggest sales season used to be primarily the run up to Valentine’s Day, but now e-commerce sales and activity also peak around Christmas, Mother’s Day and other holidays, Funk says.
In addition to launching a new web store, Vermont Teddy Bear is also planning other merchandising initiatives to drive online sales in the next year. “We are translating VermonTeddyBear.com into Spanish and adding more personalization such as options for monogramming pajamas,” Funk says.
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