Answear.com with online sales growth of 51% higher y-o-y. Q3 2022
Answear.com, a leading e-commerce provider of fashion and home décor products in the CEE region, according to preliminary data, generated in Q3 2022. PLN 244 million in online sales, an increase of 51% year-on-year. The very good results show that despite the challenging market environment, the Company is able to successfully implement its strategy and maintain attractive growth rates.
- We are pleased with the preliminary sales figures for Q3 2022. Despite the difficult market environment in the form of, above all, high inflation and the specter of recession, our business continues to grow rapidly in contrast to our competitors, who are experiencing sales declines. This confirms the validity of our strategy to diversify geographically and steadily increase the average order value. In addition, the past quarter was the first full period this year that included the relaunched Ukrainian market. Here we remain optimistic as well, we see a steady recovery of this market, which should translate into even better sales in the future – comments Krzysztof Bajołek, CEO of Answear.com.
Answear.com's good preliminary sales results in the past quarter are due in part to leveraging the effects of its geographic expansion into new markets in Southern Europe, which has resulted in a growing customer base and volume of orders. The geographic stretch of the Company's markets allows it to simultaneously sell new fall-winter collections in Central European markets and extend the sales period of summer collections in the south of the continent. In addition, Answear.com continued its brand awareness-building activities with TV advertising campaigns in Q3.
- We are now starting the fourth quarter, which is the busiest period of the whole year. We are very well prepared for it, we have a rich winter collection for our customers. In addition, we intend to present new attractive brands. We also plan to conduct an intensive advertising campaign including TV and online video. We hope that, as usual, Q4 will be the best period of the whole year for us – adds Krzysztof Bajołek.