Retailers have teased and rolled out online deals for days, even weeks, but the real Black Friday is here.
Eight of the top 10 online retailers in sales last year were multi-channel sellers, up from five the year before and three in 1999, a new report from Retail Forward says.
If anyone needed confirmation that dot-com bubble burst drove the pure-play online retailers out of the industry, a new study from consultants Retail Forward Inc. provides it. Retail Forward reports that in 2001, for the first time, the majority of top 10 online retailers were multi-channel merchants. Eight of the top 10 in sales last year were multi-channel sellers, up from five the year before and three in 1999, Retail Forward’s new Top 50 E-Retailers report says. Of the top 50, 42 are multi-channel.
In dollars, the top 10 controlled 60% of the top 50’s sales in 2001, down from 66% the year earlier. The top 50 reported revenue of $14.4 billion, less than half of all online sales of about $36 billion.
Retail Forward says the top 10 online retailers and their 2001 revenue (in millions) are:
1. Amazon.com, $3,122
2. Office Depot, $1,600
3. Staples, $950*
4. Gateway Inc., $775*
5. Costco Wholesale, $450*
6. Barnes & Noble.com, $405
7. Buy.com, $395*
8. QVC.com, $350*
9. Spiegel Group, $332
10. J.C. Penney, $324
Portals continue to have a strong and growing influence on e-commerce sales. “They have successfully used their brand names and solid reputations to help their large communities of loyal users feel comfortable about making online purchases – particularly from lesser-known e-retailers,” said Mary Brett Whitfield, senior vice president and director of the Retail Forward E-Retail Intelligence Program that conducted the study.