TigerDirect: Second Online Retailor to Top $1 Million in Bitcoin Sales
Following Overstock, TigerDirect is the second online retailer to report Bitcoin sales in excess of $1 Million. TigerDirect processes about 2 billion dollars of orders each year. Both companies reported dramatic sales increases as a result of beginning to accept Bitcoin. Using Bitpay as its payment provider TigerDirect began accepting Bitcoin on January 23rd. Interestingly customers are eager to spend Bitcoins in spite of the constant media hype that Bitcoin is deflationary and therefore supposedly people wont spend it. Steven Leeds, director of marketing at TigerDirect stated:
The overwhelming response from our customers validates our decision.
Additionally he said that customers have benefited by saving money on transaction fees. Overstock reached the $1 Million mark on March fourth shortly followed by Tiger direct. TigerDirect took only 50 days to reach the mark. Hopefully, the dramatic sales of these companies will convince others that they need to accept Bitcoin or lose potential customers. These numbers may also force people to reassess the claims that people won’t spend Bitcoins. (Not to fall into into the media assumptions that consumerism is good or that savings are somehow bad)