Fab Expands To Its 20th Country: Canada; Now On Track To $140M In Sales By Year-End
Fab.com's international expansion continues, and this morning, the social shopping site is arriving in its 20th market: Canada. The additional market follows Fab's European expansion 13 more countries across Europe last month, which then brought Fab to 16 countries worldwide. Since then, it has also added Sweden, Poland and Cyrus to the list. According to Fab CEO Jason Goldberg, customer demand for Canada was already fairly high, and Fab expects the region to soon account for at least 5% of revenue. Currently, 3%-5% of Fab.com traffic is from that Canada, despite Fab not having shipped there until now.
Fab

Fab.com’s international expansion continues, and this morning, the social shopping site is arriving in its 20th market: Canada. The additional market follows Fab’s European expansion 13 more countries across Europe last month, which then brought Fab to 16 countries worldwide. Since then, it has also added Sweden, Poland and Cyrus to the list.

According to Fab CEO Jason Goldberg, customer demand for Canada was already fairly high, and Fab expects the region to soon account for at least 5% of revenue. Currently, 3%-5% of Fab.com traffic is from that Canada, despite Fab not having shipped there until now.

At launch, over 80% of Fab’s products will ship to Canada at a $10 flat rate. The new Canadian members will use the Fab.com domain. Meanwhile, overseas, customers are still directed to Fab.de. This, however, will change in August, when all of Fab is brought under the “Fab.com” umbrella.

Given Fab’s rapid expansion – launching in country #20 in less than a year – it was a good time to take a look at some of its other data. This morning, Goldberg also gave us pulled up some new data to highlight Fab’s growth, noting that the company now has 3.8 million members worldwide, up from 1.5 million at the beginning of the year. 1 million of its members are now outside of the U.S.

Fab.com customers have purchased 1.8 million products so far this year, equal to 3.5 products per minute. And Fab.de is now doing $75,000-$80,000 sales per day, up from $10, 000 following its entry in the market through its acquisition of Cassacanda.

Fab also just launched a major site redesign this month to focus users’ attention more on social shopping and less on the flash sales elements. Early indications are that it’s working, with more orders per day following the changes. The number one indication that someone will buy from Fab is their engagement with the site’s social features, says Goldberg. iPhone users are 2 times more likely to buy than others, iPad users are 4 times more likely to buy, but Fab social users are nearly 10 times more likely to buy. They also explore deeper into the site than before, when 75% of sales came from daily sales – now just 50% do.

Goldberg also says that Fab is now on track to reach $140 million in sales worldwide by year-end (up from $100M in March) but that calculation didn’t take into account the addition of Canada or Fab’s further growth in Europe.



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