Firm sees online sales to surge
By Pan Xiaoyi |
August 27, 2009, Thursday
|
Print Edition
Print Edition
MECOXLANE Enterprise Group, China's largest mail order company, said yesterday it plans to invest 100 million yuan (US$14 million) to promote its online business and expects online sales to more than triple to 670 million yuan this year.
The owner of fashion brand Euromoda said its booming online sales as well as real-store and catalogue sales have prompted it to raise its full-year sales forecast.
MecoxLane did not give a specific number for the revised total sales target but it forecast sales from its online business portal, M18.com, to more than triple to 670 million yuan this year and to contribute more than 30 percent to its total revenue. The earlier outlook, made in mid-July, was for sales of 350 million yuan.
Pu Sijie, e-commerce general manager of MecoxLane, expects the online sales to jump more than 70 percent next year.
According to Shanghai Daily's estimation, full-year sales this year are likely to top 2 billion yuan, compared with the full-year target of a more than 50 percent jump in sales to 1.5 billion yuan set at the beginning of the year.
"We are satisfied with an earlier testing of the online advertising market and we are likely to invest more as there is still much potential," said Pu.
He added that now 80 percent of M18 sales came from regular customers and the firm would attract more new customers after the investment. M18.com has 1.8 million registered online members by the end of July and daily transaction volume of 1 million yuan.
The owner of fashion brand Euromoda said its booming online sales as well as real-store and catalogue sales have prompted it to raise its full-year sales forecast.
MecoxLane did not give a specific number for the revised total sales target but it forecast sales from its online business portal, M18.com, to more than triple to 670 million yuan this year and to contribute more than 30 percent to its total revenue. The earlier outlook, made in mid-July, was for sales of 350 million yuan.
Pu Sijie, e-commerce general manager of MecoxLane, expects the online sales to jump more than 70 percent next year.
According to Shanghai Daily's estimation, full-year sales this year are likely to top 2 billion yuan, compared with the full-year target of a more than 50 percent jump in sales to 1.5 billion yuan set at the beginning of the year.
"We are satisfied with an earlier testing of the online advertising market and we are likely to invest more as there is still much potential," said Pu.
He added that now 80 percent of M18 sales came from regular customers and the firm would attract more new customers after the investment. M18.com has 1.8 million registered online members by the end of July and daily transaction volume of 1 million yuan.
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