Answear.com with online sales up 73% year-over-year in Q3 2021.
Answear.com, a leading e-commerce fashion retailer in the CEE region, according to preliminary data generated in Q3 2021 161 million PLN of online sales, it means a growth by 73 % y-o-y, which translates into equally dynamic growth of sales revenue, which in the same period grew by 72 % y-o-y. and amounted to 155 million PLN.
The third quarter is a period of continuation of the positive sales growth trend throughout 2021. The annual quarterly online sales growth rate of 73% is mainly the result of a dynamically increasing product range, especially in the premium segment, as well as the introduction of many well-known brands such as: Superdry, Boss, Paul&Shark, Tiger of Sweden, Aeronautica Militare, Marella, Victoria Victoria Beckham or Chiara Ferragni. In the last quarter Answear.com significantly improved stocking and increased inventory, so that it could successfully offer attractive collection offer to the customers also in the period of summer sales.
We are pleased with consistent growth of online sales. This is undoubtedly the result of the implementation of the strategy to increase premium products, which directly translates into the average order value. In addition, in recent months we have continued our branditng activities in all markets where we sell, which has directly contributed to further strengthening brand awareness and positioning in the market. In addition, we are continuously increasing our warehouse capacity and our operational efficiency. - comments Krzysztof Bajołek, Answear.com CEO.
Answear.com sees also an improvement on the level of customers shopping experience. The last quarter, was the first full period, when the company had mobile applications launched and all shop versions migrated to the new platform. The new environment is characterised by high UX (user experience), speed and an improved shopping process, which translates directly into increases in conversion and the value of the average purchase.
In addition, the Company is systematically developing its own brand. In the last quarter, new special Answear.LAB collection "Power Girl", which refers to the strength and independence of women, was put on sale. It is certainly Answear.com distinguishable from competition and attracts many new customers.
It is worth emphasizing, that the Company is not slowing down the pace of development. In the last weeks Answear.com dynamically expanded the scale of its activity. At the end of August the company started its activity in Greece, in turn, at the beginning of October it entered the Croatian market.
We consequently realize our IPO goals, which were, among others, expansion into CEE countries. Entering two new markets will certainly contribute to further sales growth in the coming periods. We are already present on 9 markets in the CEE region: Poland, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Ukraine, Greece and Croatia. We want to be present in all the countries of Central and Eastern Europe, including all the Balkan countries. - adds Krzysztof Bajołek.