Newegg opens an online store for college students
July 8, 2015 09:30 AM
One of the largest electronics e-retailers has launched a student-only online store complete with discounts and special pricing in hopes of increasing its market share among younger shoppers.
Newegg Inc., No. 17 in the Internet Retailer 2015 Top 500 Guide, today launched the online store, available only to students who have a verified .edu email address, as part of a back-to-school marketing campaign. Newegg is also giving students $20 off an annual Newegg Premier membership, which retails for $49.99 and includes such perks as exclusive promotions, free faster shipping, and a private customer service line.
“Our BACK2SCHOOL initiative is our way of helping [students] stretch their budgets and make sound investments in the technology that will serve them well this upcoming academic year,” chief marketing officer Soren Mills said in a statement.
Top500Guide.com data shows that customers under the age of 24 comprise 16.18% of Newegg’s predominantly male (63.78%) customer base. The retailer’s sales have plateaued over the past five years, growing 13.2% from $2.5 billion in 2010 to an Internet Retailer-estimated $2.83 billion in 2014. In March, Mills said the company’s sales on mobile devices grew 54% year over year in 2014.