Buy.com says it had biggest Black Friday. Ever.
December 1st, 2008, 6:18 pm · 7 Comments · posted by Tamara Chuang, a.k.a. The Gadgetress
Recession-schushmession. Buy.com just reported that it had its biggest Black Friday sales day in company history, with over 40 percent growth in both revenue and customer orders compared to last year.
The Aliso Viejo company didn’t offer us any actual numbers so we could check them out. However, back in May, Buy.com CEO Neel Grover spoke to me and offered some details. At the time, it was expecting to post its sixth straight profitable quarter, which it then did a week later, with $1.4 million in profit. It previously reported income of $411,000 for the third quarter of 2007, an improvement of the prior year’s loss of $5.6 million.
“We make money on every product we sell — we make a little less money than our competitors,” he told me.
Buy.com did make a big fuss over the holiday weekend. Going into Thanksgiving, it had a pre-turkey day sale subsidized by PayPal. Then over the weekend, it continued to post new deals. And of course, there were today’s Cyber Monday deals.
Maybe the news shouldn’t be too unexpected. Retailers, apparently, fared much better on Black Friday than they had anticipated, according to a report on the Register’s Retail blog.
The company has been around since the mid 1990s, although many had written it off after the dot-com bubble burst. Under the radar, Buy.com has continued to attract customers. According to its latest release, it has 12 million customer accounts, up from 10 million a year ago.
Related retail news:
- Cyber Monday may be fake, but deals are out there
- Online shopping tips … from a vacuum cleaner?
- “Black Friday” sales better than expected, report says
- Retail analyst expects deeper discounts to come
- Big discounts drive weekend sales
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I call BS!!!! the guy who started this company Scott Blum is so full of BS!!!! Why should we believe anything that is founded on BS?
Salmon swimming upstream reeks like fish to me!
They pay their employees like crap. It’s an intern sweat shop. They give decent prices online but rape you when you have to ship a $1 product for $9.
I hope they choke and die in this economy soon.
WOW THE MISERY
Most of the good deals from this company have Free Shipping, and their shipping is very fast
I’ve been shopping there for years. Never had a problem. And they have some great deals… – I know two people in my church that work there and they are both quite happy. You know, they do offer their employees catered lunches every day of the week. sicminded, maybe you should apply…
Sicminded: must say thats offensive and wouldn’t be sharing these details if i didn’t find your comment to be highly ignorant and completely inaccurate. I’m sub 30 and make six figures at buy. We also have free lunches for all 140+ employees and profit share checks quarterly….. just to name a few perks..
Regarding your shipping comments, we offer free shipping on the majority (of the millions) of products shipped and sold from Buy.com.
Not sure where you’re getting your information from… but whoever told you that isn’t very informed on the business.
I work ‘with’, not for Buy.com. I can testify that they DO treat thier associates very well there and have one of the coolest/hip enviroments to work in. I too can confirm the daily catered lunches as well as social events across the street at the Renaissance hotel. ‘sicminded’ sounds like a ex-disgruntal employee and obviously is misinformed.