ChannelAdvisor reported significant Gross Merchandise Volume (GMV) growth for its Internet retail customers on Cyber Monday. The company also said it broke its 1-day GMV record of $10 million that was set on December 4, 2006, when it recorded $11.6 million in GMV on Cyber Monday, November 26, 2007. In 2006, ChannelAdvisor managed over $1.6 billion in GMV on behalf of its customers.
ChannelAdvisor said year-over-year GMV growth in Comparison Shopping Engines (Google Product Search, Shopping.com, Shopzilla, etc.) was 135 percent on November 26, 2007, with Google Product Search the overall leader and NexTag.com and Shopzilla.com coming in a close second.
Year-over-year GMV growth in Paid Search (Google, Yahoo!, MSN, Ask.com, etc.) was 93 percent on November 26, 2007, with Google Adwords seeing a growth rate of 105 percent.
Year-over-year GMV growth in Marketplaces (eBay, Amazon, and Overstock.com) was 50 percent on Cyber Monday, and 460 percent on Amazon.com through the Amazon Merchants@ program.
In a conference call with Bob Peck of Bear Stearns on Tuesday, Channel Advisor CEO Scot Wingo broke down the Amazon data, explaining that Amazon sales were up 200 percent when comparing "same-store" sales, but up 460 percent total due to new Amazon.com stores coming online. Wingo also said Amazon.com has been giving third-party sellers more exposure.
In a research note about the conference call released on Wednesday, Peck wrote of ChannelAdvisor's results: "Conversions on eBay went up YoY, but that could be aided by the cut off of low converting items as sellers take off those items due to high fees. This is negative for eBay as it results in narrower selection on the eBay platform. Mr. Wingo saw downward pressure on ASP on same-item basis."
ChannelAdvisor also announced on Tuesday it has extended its strategic alliance with GSI Commerce to help online retailers and brands leverage paid search and comparison shopping engines. Under the alliance, gsi interactivesm, the interactive marketing group of GSI Commerce, will manage GSI partners paid search and comparison shopping campaigns through ChannelAdvisor's Complete software application.
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ChannelAdvisor reported significant Gross Merchandise Volume (GMV) growth for its Internet retail customers on Cyber Monday. The company also said it broke its 1-day GMV record of $10 million that was set on December 4, 2006, when it recorded $11.6 million in GMV on Cyber Monday, November 26, 2007. In 2006, ChannelAdvisor managed over $1.6 billion in GMV on behalf of its customers.