Madison Reed has raised $32.1 million since launching 15 months ago.
Online sales on the Monday after Thanksgiving increased 59%.
ShopNBC.com, the e-commerce arm of ValueVision Media Inc., the parent company of TV retailer ShopNBC, is reporting strong holiday sales.
ShopNBC, No. 89 in the Internet Retailer Top 500 Guide, says sales on the Friday after Thanksgiving were up 12% over the same day last year. And sales were especially robust online. Although ShopNBC didn’t break out dollar sales, the TV and Internet retailer says e-commerce sales for last Friday, also widely known as Black Friday, were up year over year by 51%. “The online customer really engaged with us,” says ShopNBC senior vice president of e-commerce, marketing and business development Carol Steinberg.
Web sales also trended higher on the Monday after the Thanksgiving holiday, also known as Cyber Monday. On Monday, sales for Shop NBC increased 36% for all channels over the previous year, while sales on ShopNBC.com grew by 59%.
The biggest sellers online included Xbox, Wii, DSI and PS3 video gaming systems and Mitsubishi and LG TVs. Other hot-selling items included 14-karat white or yellow gold Kellie Anne Stud earrings, eternity band rings and Delphi skeleton leather strap watches. “At ShopNBC, the multichannel shopper was quite active this Black Friday and, to a larger extent, over the entire holiday shopping weekend through Monday, as we leveraged integrated TV and Internet marketing strategies to drive e-commerce sales penetration at plus 50%,” says Steinberg.
ShopNBC’s stronger Thanksgiving sales performance comes after the company also reported higher web sales for the third quarter ended Oct. 30.
For the quarter:
- Web sales accounted for 40.5% of total sales compared with 33.7% in the third quarter of 2009. Based on those percentages, Internet Retailer calculates web sales increased year over year 33.3% to about $53.6 million from $40.2 million.
- Total sales increased 10.8% to $132.3 million from $119.4 million in third quarter of 2009.
- Net loss was $5.8 million compared with $12.9 million in the prior year.
“New and active customers in the quarter continued to engage, interact and shop across our multiple channels with e-commerce sales penetration of 40.5%, up 680 basis points compared to last year,” says CEO Keith Stewart. “This overall progress is a validation of our continued focus and efforts to turn the company around while executing on new strategies for growth."
For the first three quarters:
- Web sales accounted for 39.8% of total sales compared with 31.5% in the first three quarters of 2009. Based on those percentages, Internet Retailer calculates web sales increased year over year 14.7% to about $134.6 million from $117.3 million.
- Total sales increased 2.9% to $383.4 million from $372.6 million in the first three quarters of 2009.
- Net loss was $24.5 million compared with $33.2 million in the prior year.