CyberShop International, Inc. (Nasdaq: CYSP), whose online stores include Egift.com, saw its fourth quarter revenues skyrocket to $3.4 million, four times 1997’s fourth quarter sales of $847,000. What drove this revenue increase? None other than Furby.
“Our greatest success was recognizing early on that Furby was going to be the hottest toy of the 1998 holiday season,” said Jeff Tauber, Chairman, President and CEO of CyberShop.
“We were able to secure a large supply of Furby for the holiday shopping rush and successfully made it known to disappointed brick-and-mortar retail shoppers that Furby was just a mouse click away.”
Furby was available at egift.com, as well as CyberShops store on America Online throughout the holiday selling season. Sales of Furby represented approximately 60% of the company’s total revenues during the fourth quarter.
The average order size in the fourth quarter of 1998 was approximately $125 compared to $95 in the prior year. On December 31, the company had cash on hand in excess of $12 million. CyberShop expects to release complete fourth quarter and fiscal year financial results in mid-February.
CyberShop is a leading online retailer, operating Egift.com, Electronics.net, as well as CyberShop.com on the AOL Shopping channel.