But losses mount for the home furnishings e-retailer that went public in October.
Ice.com sells out of its Cyber Monday specials and sees Tuesday’s numbers trending ahead of Monday’s totals. To continue the momentum, Ice prepares a gift with purchase promotion and gauges the effects of continuing free shipping.
Like other online retailers, jeweler Ice.com had a record-breaking day on Cyber Monday, the Monday after Thanksgiving, with sales up 94% over the same day last year and traffic up 82%. But vice president of marketing Pinny Gniwisch believes the day won’t necessarily be the biggest of Q4, where Ice makes an estimated 50% of the year’s sales. With traffic and sales at mid-day Tuesday already trending ahead of the previous day’s numbers, he’s sizing up prospects for Cyber Tuesday.
“I believe most people who are shopping online are shopping from their offices,” he says. “They get to the office Monday after a long weekend, there is a ton of e-mail and they are busy getting through everything that has piled up. Then on Tuesday, they go shopping. We are seeing that.” Tuesday’s numbers, even if they top Monday’s totals, are likely to be superseded by sales and traffic totals on a day closer to the holiday if this year follows last year’s trend, he adds.
Gniwisch notes that, spurred by two promotions including free shipping on any size order and a 10% discount on items promoted at checkout, Ice.com sold out of all its Cyber Monday specials. To keep the momentum going, Ice, No. 178 in the Internet Retailer Top 400 Guide to Retail Web Sites, has other holiday promotions up its sleeve, including a free gift with purchase it plans to launch next week and run until the 20,000 gift items earmarked for the promotion are depleted.
Depending on how its numbers stack up over the next two days and pending an analysis of whether free shipping, normally offered only on purchases of $150 and above, affected average order size, Ice will decide whether or not to extend free shipping on all orders father into the season, he adds.