Party City ‘primed’ for a new strategy
Party City hopes to bring in more customers by becoming a third-party seller with Amazon.
The company plans to make its Halloween costumes available on the web giant’s marketplace platform by early next month, according to James Harrison, Chief Executive Officer of Party City Holdco Inc. According to Bloomberg, this marks the first time it’s sold branded items outside its more than 900 stores and website. The plans will be extended for the holidays as well, if sales are deemed successful through Amazon.
Party City’s Chief Executive Officer, James M. Harrison, said in the company’s second-quarter report that he was pleased with the company’s progress and growth. He added, “the recent announcements of the expansion of our seasonal pop-up store offering with 50 Toy City locations and our seasonal pilot program with Amazon will only strengthen the offer for customers. Given performance to date and the outlook for the second half of the year, we are reiterating our full year 2018 guidance.”
According to Bloomberg, Some surveys show that about half of all online shopping searches in the U.S. begin on Amazon’s website. About 60 million U.S. households, nearly half the households in the country, have Prime memberships, according to Cowen and Company. Party City is the latest brand to sell its products in Amazon. Other brands include Nike Inc., Best Buy Co. and Denny’s Corp, according to Bloomberg.
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