Aims for Holiday Shoppers

Aiming to take a bite of Australia’s holiday shopping pie, new e-commerce
site 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.

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