Annual e-commerce sales jump 20% for The Knot
The Knot Inc. is reporting a 20% jump in web sales for 2006.
For the year, e-commerce sales for The Knot, No. 343 in the Internet Retailer Top 500 Guide, rose to $15.1 million from $12.6 million in 2005. In 2006, the web represented 21% of total revenue of $72.7 million vs. 25% of total sales of $51.4 million in 2005.
For the fourth quarter, online retail sales rose 64% to $2.8 million from $1.7 million in Q4 2005.
The Knot, which acquired WeddingChannel and WeddingChannel.com in June, says the acquisition and better technology helped to drive web sales higher. “The investment in our e-commerce platform and warehouse facility in 2005 resulted in a rebound in merchandise revenue in 2006 and enabled us to seamlessly consolidate WeddingChannel`s merchandise operation into our facility,” says Knot CEO David Liu. “Through our acquisition of WeddingChannel in September, we secured our leadership position in the online bridal media space and facilitated a significant expansion into the lucrative registry business.”
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