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ChannelAdvisor (CA), which helps retailers sell their products online, reported same-store sales growth of 12% in January.
This is another data point suggesting that e-commerce spending experienced during the Q409 holiday season has continued into Q110, but the rate of growth is slower than in Q4.
- Overall same-store sales at the company were up 12%
- Amazon was up 75%
- eBay was up 5%
FIRST QUARTER E-COMMERCE GROWTH PACING JUST BELOW Q409
We estimate CA’s same-store growth was 15% in Q409. Q1 is tracking down slightly from that.
We estimate CA same-store sales on Amazon during Q409 were up about 70% versus about 4% to 5% for eBay. This indicates:
- 1) both have maintained strength seen in Q409 thus far in 2010 and
- 2) Amazon continues to be the preferred platform for sellers and buyers.
eBay has been challenged by usability concerns from buyers and sellers in its marketplace in addition to a preference for direct e-commerce sales versus eBay’s auction format so this is not new.
FIRST QUARTER GUIDANCE APPEARS ACHIEVABLE
Amazon guided to about 32% pro forma revenue growth for Q110, a modest deceleration from 35% growth during Q409. ChannelAdvisor’s numbers suggest the company’s guidance is achievable (CA manages over $3 billion in annual GMV).
We estimate eBay’s overall Q1 guidance also calls for a deceleration of growth in its marketplace segment, which grew 15% YOY in Q409.
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