Aiming to take a bite of Australia’s holiday shopping pie, new e-commerce
site ToySpot.com.au plans to open its online toy store by the end of October.
The storefront, which claims to be the first Internet-only toy store in the country, is a division of Internet business TheSpot.
“The toy market in Australia is valued at $1.3B, with around 75 percent of sales occurring in November and December,” said Justin Punch, co-CEO of TheSpot. “This Christmas we will be aiming to take a slice of the market by offering consumers the first genuine online alternative.”
Punch said he expects online sales to represent 5 percent of the
Australian toy market in the next 3 years.
TheSpot has raised $1.6 million in funding, and hopes to gain another $8 to $10 million by November.