1847 Holdings' Goedeker's Subsidiary Posts Third Highest Sales Day During Presidents Day Promotion

NEW YORK, NY / ACCESSWIRE / February 20, 2020 / 1847 Holdings LLC (OTC PINK:EFSH), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, is pleased to announce that its Goedeker's subsidiary generated its third highest sales volume day within the last 12 months on Presidents Day, with unaudited written sales volume of approximately $478,000, up 42% from the prior year's Presidents Day sales volume of approximately $336,000, and only exceeded by written sales volume for 2019's Black Friday and Cyber Monday.

Headquartered in St. Louis, Missouri, Goedeker's has evolved from a local brick and mortar operation to one of the 30 largest appliance retailers in the country with over 90% of its sales placed through the company's e-commerce platform. The innovative "etailer" utilizes a hybrid approach to marketing and selling to customers on the web, combining live chat and phone center operations that drive leads to its website, providing competitive pricing while delivering and installing appliances and home furnishings across the country.

"Doug Moore, the CEO that we hired to run Goedeker's following its acquisition, has led investments in improving Goedeker's competitive advantages which have been key drivers behind the company's strong financial performance, and we remain optimistic that continued progress will be made in sales and profit as we move through 2020," stated Ellery W. Roberts, founder and chief executive officer of 1847. "Doug and the team have developed an operating plan to leverage Goedeker's promotional impact for the traditional holiday periods and create daily increased sales by attracting and selling to more customers based on speed-to-market and a high-touch, high-tech operating strategy."

Recent investments include transitioning Goedeker's to a new website shopping platform and integrating that platform with an advanced call center that creates attribution for marketing spend and real-time call distribution, coaching, and scoring of KPIs for optimal selling and customer service. Significant improvements have been made in website speed, navigation, and shopping tools for choosing the right product and are combined with data-driven product curation and the addition of new big-ticket merchandise categories.

The success of the strategy and technology improvements, which has been shared with the vendor community, is opening access to new brands and products, improved vendor programming and support, and is fueling access to products direct from vendor warehouses, leading to increased delivery speed to customers.

The appliance and home furnishing market in the US is forecasted to exceed $70 billion in 2020 and is expected to grow at a CAGR of 7.6% through 2024, according to data from Statista.

About 1847 Holdings LLC

1847 Holdings LLC (OTC: EFSH) is a publicly traded partnership that combines the most attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company. 1847 Holdings seeks to generate returns for shareholders in the future through consistent, annual distributions of operating subsidiary income and capital appreciation resulting from the timely sale of operating subsidiaries.

Forward-Looking Statements

This press release may contain information about 1847 Holding's view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.

Contact:

Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
[email protected]

Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
[email protected]

SOURCE: 1847 Holdings LLC