Online sales of Answear.com up 37 percent year-over-year in Q2 2021
Answear.com, leading fashion e-commerce seller in Central and Eastern Europe, according to preliminary data generated in the second quarter of 2021 153 million PLN of online sales, which translates into a 37 percent increase year-on-year. This also resulted in an increase in sales revenue, which increased by 39 percent year-on-year in Q2. and amounted to PLN 145 million. In the entire first half of the year, online sales increased by 53% and revenues by 55%.
Noteworthy, online sales in the second quarter increased by PLN 27 million, or 21%, compared to sales in the first quarter of this year, despite the opening of shopping malls at the beginning of May. Achieved results confirm, that Answear.com, as a multibrand store acting only on-line, increases its sales regardless of pandemic situation, and as main growth factors Management Board indicates:
- enlargement of the product offer, introduction of many new brands to sales, increasing the stock of goods offered to customers for immediate purchase;
- successful marketing efforts aimed at strengthening the brand in all markets in which the Company currently operates, in line with the strategy outlined during the IPO;
- technological changes, switching all markets to a new e-commerce platform, incorporating mobile applications in all markets, technological improvements implemented with new systems, resulting in increased conversion and average basket value;
Further development of own brand, including two new special collections of Answear.LAB prepared in cooperation with Paulina Krupińska, offered to sale in the second quarter of this year, distinguishing Answear against competition and attracting many new customers. People longed for traditional shopping, for a large part of them going to the mall on the weekend was a kind of ritual. However, we, as a pure e-commerce company, did not feel it too strongly, which is confirmed by the results for the second quarter. Customers appreciated the work we have done over the last year, especially the increase of our product range, introduction of many new brands, such as Hugo, Boss, Superdry, United Colors of Benetton, Sisley, Tiger of Sweden, Strellson, Nautica, Lyle & Scott, Colmar, Kurt Geiger London and many others. Successful marketing activities carried out in all markets in which we have sales, have contributed to a significant strengthening of brand awareness and market position. The technological changes introduced have resulted in an increase in conversion and average basket value. In addition, most of our customers are conscious online shoppers who know the advantages of selling online and do not return to stationary stores, even after they have opened. - Krzysztof Bajołek, CEO of Answear.com comments.
Additionally it is worth to emphasize the issues of easing of restrictions, which resulted in returning to offices, opening of restaurants, possibility of traveling or permission to outdoor events, what naturally triggered shopping needs and also contributed to sales growth, the more, Answear.com was well prepared for it, it had a wide product offer of popular brands, prepared especially for the warm pre-holiday period. It was an important factor influencing sales in the second quarter.
- We try to develop our platform. We are constantly adding new collections to our catalogs, not forgetting about development of our own brand Answear.Lab, and about technology development, which is an extremely important element, significantly influencing efficiency of our business. We feel, that customers appreciate it, so our results are constantly improving. In the near future, we plan to enter new markets, which will further increase the scope of our activities and strengthen our position in the CEE region. - adds Krzysztof Bajołek.