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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