Closing Bell 2009

This post was originally published via email and on the CEO’s Personal Blog.

The closing bell newsletter has become somewhat of an institution, and as I sit here ready to pen this, the 4th edition of my closing bell newsletter I am totally overcome by emotion, gratitude and excitement.

The closing bell newsletter started 4 years ago as a medium for me to communicate notable events in the online market and within our company, to our clients, suppliers, partners, staff and other stakeholders, so in the spirit of tradition let’s sit back, and take a nostalgic walk back over 2009.

Without a doubt the single biggest driver in the online market during 2009 was the recession, and exactly as I predicted back in my closing bell newsletter of 2008, the recession proved to be an incredible opportunity for the online market, as savvy consumers turned to the internet for pre-purchase research, comparison shopping, and convenience.

Despite all the offline economic doom and gloom, e-commerce sales were up 13.7% in 2009 compared to 2008 on Cyber Monday (which of course the ceremonial kick-off of the online holiday shopping season), and this is the 3rd successive double digit growth curve in as many years.

Even more interesting is that in 2009 the average dollar amount spent by consumers per online order rose by 38.2%, from $130.24 to $180.03, and additionally per order, consumers purchased 30% more items at checkout in 2009 than they did in 2008.

And if you have any doubt about the future of business online, consider that this Cyber Monday saw a staggering 7,666,119 million visitors per minute between the top 1000 online stores, resulting in a whopping 4.3 million sales a minute as reported and verified by CNN.

I have always maintained that a recession is nothing more than a shift in balances, and only the naive would believe that the money has disappeared.

The online market has proven exactly that, not only taking away from the traditional business space, but bucking the trend and showing growth in one of the biggest economic downturns in recorded history.

It is safe to say that we are no longer on the edge of opportunity, but rather fully entangled and engaged in one the single biggest business opportunities you and I will ever see in our lifetimes.

As a company we have continued to aggressively, passionately, and logically pursue growth. We have reinvested heavily into improving, developing and creating systems to meet the demands in the years ahead.

60% of our net profit has been ploughed back into systems staffing, training and product development, not only because we realise that to remain the worlds leading internet marketing company we have to reinvest, but because we believe in the future of the online market.

We have progressively turned global, thanks in part to our brilliant digital communication engineers who deserve an immense amount of credit for designing and building a one of a kind system from the ground up that connects our company hub with staff, clients, agents, partners, suppliers, and consumers spread across 17 different countries.

As our own online portfolio continues to expand along with our clients, suppliers and staff, we remain forever loyal to our core founding mission statement as we head into an exhilarating and challenging 2010.

We will continue to hire the best staff, using the best technology, investing in the best resources, associate with the best clients and partners, and above all, we will remain committed to being the best at what we do.

Above all else we will always stick to the basics of business, and continue to place more value in our relationships with people than in any other part of our business.

As 2010 summons a change, and a dramatic shift in business, and economics, I would like wish everyone associated with Justin Harrison Marketing a prosperous new year.

I would also like to extend a very heartfelt and special thank you to all my closest staff, management team, advisors, clients, suppliers and partners who have become more than business associates, but people I am honoured to call my friends, may we all march to new heights in 2010.