Amazon is Not Alone - LightInTheBox.com Sets Record Holiday Sales Despite Recession
BEIJING, Dec. 31 /PRNewswire-Asia/ -- LightInTheBox.com, a China-based global online distribution channel announced that it has set a new record for holiday sales. The online wholesaler saw phenomenal growth in 2008, tripling its Q4 sales on both its own website and its eBay outlets, when compared to the same period in 2007. Since LightInTheBox is a private company, the actual sales figure remains confidential. Such results coincide with an earlier announcement made by Amazon.com for its record holiday sales with a 16% increase from last year.
The company believes that the recent economic recession has provided a unique opportunity for low-price channels, such as Wal-Mart, Amazon.com, and LightInTheBox.com, as shoppers begin to value price and quality over name brands. People love to purchase gifts with high perceived value but actually tagged with a low price. For instance, a mini laptop ( http://www.lightinthebox.com/wholesale-Computers_c213 ) listed as $229 became one of the season's top selling items. Similar to Amazon.com, LightInTheBox top selling items include game consoles ( http://www.lightinthebox.com/wholesale-Video-Game_c202 ) and MP3 players ( http://www.lightinthebox.com/wholesale-MP3-and-Media-Player_c1746 ), as well as its own unique top selling tailor-made party dresses ( http://www.lightinthebox.com/wholesale-Formal,-Special-Occasion-Dresses_c2048 )and "Made-by-China" cell phones ( http://www.lightinthebox.com/go/cell-phones ).
"During the last week of the holiday season, Nintendo Wii consoles went out of stock in most state-side retailers, including Wal-Mart, Best Buy and Amazon.com, so many customers turned to us," said Kevin Wen, Co-founder of LightInTheBox, "people are also very interested in products with unique designs, such as our wrist watch cell phones and Santa Clause MP3 players."
LightInTheBox's employees, from accountants to managers, all worked
In addition, this year's holiday season sale is extended even longer for LightInTheBox, for the Extended Boxing Day sale brought surprisingly strong results; follow by a New Years special sale. "I suspect this phenomena was driven by the fact that too many people were too hesitant in the beginning, but are now realizing that our life will go on, despite of a long winter," said Wen, with a glimpse of optimism.
LightInTheBox is a leading global value-adding online distributor. It offers more than 50 thousand quality product selections to customers in more than 100 countries. It serves both end consumers and business customers who resell to end consumers.
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