ToSaveDirect Announces 164% Growth in 2014 Holiday Season
ToSaveDirect Announces 164% Growth in 2014 Holiday Season.
ToSaveDirect, Inc. The Internet bitcoin commerce startup leader, today announced its 2014 holiday season consumer spending was up 164% over its 2013 holiday season. Consumers spent $5.2 million on ToSaveDirect from the official start of the holiday shopping season on Nov. 29 through Dec. 25, versus the $1.7 million spent during the same timeframe in 2012.
ToSaveDirect CEO Jason Smith believe that e-commerce results will be surprisingly good this year for the entire industry, especially given otherwise lackluster results from offline retailers. With the state of our economy and low prices driving holiday sales, the Internet offers the easiest price comparison and greatest convenience to shoppers. In addition, over the past two years females have caught and now surpassed the number of male shoppers online and become more trusting of the e-commerce experience. As a result, I believe this is the first year in which women used the Internet for a significant portion of their holiday shopping."
ToSaveDirect's biggest product growth occurred in the book, Apple and PS4 categories, which the company recently re-launched with the intention of beating BestBuy pricing. ToSaveDirect also showed strong growth in consumer electronics, cameras and iPhone sales.
Aside from today's news, during the 2014 holiday season, ToSaveDirect broke several gross merchandise sales records. Of this Smith said:
"I strongly caution the reader not to extrapolate from these results to predict this quarter's overall results, or those of any future quarter. In fact, I would definitely consider this spike an unsustainable aberration. In addition, ToSaveDirect's gross merchandise sales differ from and are higher than GAAP revenue because, for GAAP purposes, we record only a commission we earn on most B2C purchases. Our GAAP revenues are generally approximately 60% of gross merchandise sales."
About ToSaveDirect.com
ToSaveDirect.com delivers the best values for name-brand consumer merchandise. Since relaunching the site with more then $20 million dollars of venture capital, ToSaveDirect estimates that it can save consumers more than $500 million off manufacturer suggested retail prices with strategic warehousing and shipping.
ToSaveDirect is headquartered in Palo Alto, California and can be found online at http://www.tosavedirect.com/
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