CINCINNATI, Dec. 27, 2011 /PRNewswire/ -- Cyber Monday 2011 -- November 28 -- was considered a strong success for the retail industry, as online shoppers sought deep discounts on everything from toys to clothes to -- cars? That's what staff at online lease trading service Swapalease.com found out. When Swapalease.com discounted its buyer registration price by 80 percent, they set a record for single day sales, outselling the previous record by more than 35 percent.
"We weren't surprised by the sharp upswing in sales on Cyber Monday," said Swapalease.com Director of Marketing, Jennifer Streets. "We offered a great deal, and it's clear that the ongoing economic slump is creating strong interest in leasing and lease takeovers in particular. A short-term lease offers low payments and no money down -- the perfect combination for someone looking for a change in vehicle."
Swapalease.com executives said they knew the demand was out there, so they went after it with a very aggressive pricing model...and it worked. Sellers on the sight saw the benefit also as interest in their vehicles also peaked. "It is the beauty of being online with millions of visitors each year, you can test different pricing models to see which works best for consumers," said Richard Joseph, Co-Founder of Swapalease.com. As a matchmaker for people who want to take over a lease and people who want to get out of their lease, Swapalease.com has created a new secondary car lease market.
In addition to breaking overall sales records, Cyber Monday's single day sales were more than quadruple the average day's sales for 2011. The promotion was effective for both online registrations and telesales, with sales slightly higher via the web. And despite the deep discount, revenue for the day was nearly 20 percent above average.
"The Cyber Monday promotion pushed people who were considering a lease takeover into decision mode," said Swapalease.com Buyer Account Manager, David Hildbold. "It was a great opportunity to get deeper into Swapalease.com's trusted program and start contacting prospective sellers. It also did a great job of heightening awareness of Swapalease.com's position as the leader in lease transfers and lease assumptions, while adding many new buyers to our database and increasing our sellers' opportunities to connect."
The Cyber Monday promotion was so successful, Swapalease.com continued for an extra day. Buyer registrations on Tuesday, November 29, were nearly triple the average.
Headquartered in Cincinnati, Ohio, Swapalease.com is the world's largest automotive lease marketplace and the pioneer in facilitating lease transfers online. First conceptualized in 1997, Swapalease has evolved into a leading automotive consumer online destination servicing all aspects of the automotive leasing lifecycle including education, research, pricing, acquisition and lease transfer. For more information, please call 866-SWAPNOW (866-792-7669) or visit www.swapalease.com.
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