From Zero to a Billion in Four Years

The Internet makes it possible for a newcomer to become a major force in retailing with a fraction of the investment—and a fraction of the time—that it takes store-based chains to do so. With the right strategy and flawless execution of the fundamentals of the business, e-retailers starting from scratch and without brand recognition can become major retailers almost overnight. This session will feature consumer electronics retailer Newegg.com, which started from zero in 2001 and reached $1 billion in annual sales in 2004, making it the country's 10th largest online merchant. The sales level that Newegg achieved in three years took Wal-Mart 17 years. Newegg executive Howard Tong will reveal how Newegg achieved this milestone with a combination of product depth, superior execution, community-building, word of mouth advertising and loyal customers. In the process, he'll explain how other e-retailers can achieve similar results.