RedEnvelope is having a good Q4, the company reports
Gift site RedEnvelope.com is having a stellar holiday shopping season, the company reported today. Yesterday, it recorded its first day with $1 million in sales. That was 40% higher than last year’s peak day, the company said. The $1 million represents about 13,000 orders. The company said it expects total holiday sales this year to be double last year’s.
Further, it reported that its customer base has more than tripled in the past year, from 225,000 to 750,000.
The company attributes its increase in sales to more proprietary products, higher conversion rates and strong performance by the catalog. RedEnvelope increased its products to 1,000 this year. It has mailed three holiday catalogs, the last of which arrived in homes Dec. 7.
"The million dollar day is a true milestone for RedEnvelope. It is testament to our clear position as the recognized source for unique, creative gifts presented in a beautiful way," says Martin McClanan, CEO. "We are pleased to report that holiday 2001 is on plan to date and we expect to see continued momentum in both our catalog and online sales channels."
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