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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

1847 Goedeker and Appliances Connection Continue Record Breaking Performance in December

December 29, 2020 GMT

BALLWIN, Mo.--(BUSINESS WIRE)--Dec 29, 2020--

1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers” or the “Company”), a one-stop e-commerce destination for appliances and furniture, and Appliances Connection, a leading appliance retailer under a definitive agreement to be acquired by the Company, are pleased to report record web traffic and orders during December.

1847 Goedeker Highlights (12-1 through 12-28):

  • Orders increased 103% year-over-year to $9.1M vs. $4.5M in the prior year period
  • Site sessions increased 96% year-over-year to 752K vs. 384K in the prior year period
  • Received record number of sales calls answering 97% w/ an average hold time of just 31 seconds

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Appliances Connection reported double-digit growth in site visits and orders during the period, consistent with similar trends experienced by Goedekers. Both companies continue to capitalize on the opportunities that the shift to online has created.

According to Paysafe, there are early indicators the shift to online shopping will persist beyond the end of the pandemic, while data from Bank of America and the US Department of Commerce indicate ecommerce market penetration in the US grew more in 2020 than over the entirety of the past decade.

Our strong Black Friday / Cyber Monday performance accelerated through the month of December, ” stated Doug Moore, CEO of 1847 Goedeker. “ Exceptional execution by our entire team positions us well to continue to capitalize on the growing trend towards buying appliances online.

Albert Fouerti, President of Appliances Connection, added, “This has been an incredible periodof record-breaking growth for Appliances Connection. We are excited with the market-leading potential of our combined companies in 2021 and beyond.

About 1847 Goedeker Inc.

1847 Goedeker is an industry leading e-commerce destination for appliances, furniture, and home goods. Since its founding in 1951, Goedekers has transformed from a local brick and mortar operation serving the St. Louis metro area to a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over 90% of sales are placed through its website ( www.goedekers.com). Goedekers provides visitors an easy to navigate shopping experience and offers more than 185,000 items organized by category and product features. Specialization in the home category has enabled Goedekers to build a shopping experience and an advanced logistics infrastructure that is tailored to the unique characteristics of the market. Learn more at www.goedekers.com.

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About Appliances Connection

Founded in 2000, Appliances Connection is one of the leading retailers of household appliances with a 200,000 square foot warehouse in Hamilton, NJ and a 23,000 square foot showroom in Brooklyn, New York. Appliances Connection carries many household name brands, including Bosch, GE, Frigidaire, Whirlpool, LG, and Samsung, and also carries many major luxury appliance brands such as Verona, Thermador, La Cornue, Dacor, Smeg, and Viking. Appliance Connection provides appliance installation services and old appliance removal services. In addition to selling appliances, it also sells furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on 1847 Goedeker Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and 1847 Goedeker Inc. undertakes no duty to update such information except as required under applicable law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201229005209/en/

CONTACT: Dave Gentry, CEO

RedChip Companies

Office: 1.800.RED.CHIP (733.2447)

Cell: 407.491.4498

dave@redchip.com

KEYWORD: MISSOURI UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ONLINE RETAIL HOME GOODS RETAIL

SOURCE: 1847 Goedeker Inc.

Copyright Business Wire 2020.

PUB: 12/29/2020 08:00 AM/DISC: 12/29/2020 08:00 AM

http://www.businesswire.com/news/home/20201229005209/en