Despite strong performance last quarter, party supplies retailer and wholesaler Party City announced that it is launching a pilot project to sell its products on Amazon. This marks the first time that Party City will sell branded goods outside its more than 900 stores and websites.
The project will be launched before the biggest sales season in Party City, before Halloween. Initially, it will mainly launch carefully planned clothing categories. Later this year, we will add other product categories, including Christmas and New Year celebration items, and further expand next year.
This is the latest example of the expansion of Party City’s business. In June of this year, the company announced plans to open about 50 flash shops in Toy City during the holiday season.
Party City CEO James Harrison said: “Our Amazon pilot will complement PartyCity.com’s category leadership and help advance our overall strategy – where consumers choose to shop. The place offers them Party City products.”
“As a vertical retailer, the program has also created an additional distribution channel that allows us to leverage our dynamic manufacturing and distribution capabilities while also attracting new customers to the Party City brand, including millennials, who have already demonstrated The tendency to shop across online channels.
Party City’s last quarter results
It is understood that Party City’s total revenue in the last quarter increased by 3.0% year-on-year to 561 million US dollars; net income increased from $25 million in the same period last year to 28 million US dollars; adjusted earnings per share and second in 2017 The quarter’s $0.28 increased by 42.9% to $0.40.
“In the third quarter, we are still making good progress in our strategic growth plans and preparing for the upcoming Halloween sales season,” Harrison said. Amazon is the largest shopping mall in the world. “It gives us the opportunity to reach a large majority of people.”
For many years, Party City has seen Amazon as a competitor, not a sales platform. Today, Party City succumbed to Amazon’s large audience, joined Nike, Best Buy, etc., and began to take advantage of Amazon’s huge sales platform.
According to the survey, about half of online shopping searches in the United States start with Amazon.com. According to Cowen and Company, there are about 60 million households in the United States, and nearly half of them have Prime members.
The addition of Party City once again verified Amazon’s influence, but for the seller, it is a strong competitor. How many orders will be taken by Party City for Halloween…