Answear.com with an increase in online sales by over 29% in 2023

Answear.com, a leading e-commerce offering fashion, home & lifestyle and outdoor products in the CEE region, summarizes its sales results in the fourth quarter of this year. Online sales throughout 2023 amounted to PLN 1.3 billion, which means an increase of over 29%. rdr. In turn, in Q4 2023, online sales increased by over 18%. rdr. and reached the value of PLN 442.3 million. Despite the difficult market environment, the Company continues to develop at a double-digit pace and remains one of the fastest growing fashion e-commerce in Europe. 

- We are closing the difficult year 2023, according to preliminary data, with a solid increase in online sales by over 29%. rdr. Despite the difficult macroeconomic and geopolitical situation in recent months, we are still growing at a double-digit rate and remain one of the fastest growing fashion e-commerce in Europe. Additionally, we hope that the new year should bring an improvement in the mood in the economy, which should have a positive impact on our business - comments Krzysztof Bajołek, President of the Management Board of Answear.com. 

In the fourth quarter of 2023, Answear.com, in addition to weakening consumer demand and low retail sales rates, also faced the blockade of carriers on the Polish-Ukrainian border, which resulted in delivery delays and caused a decline in demand on the previously very well-performing Ukrainian market. Nevertheless, the Company recorded the highest quarterly sales revenues in history, which proves its resistance to changing market conditions. 

- In the last quarter of 2023, we experienced a series of negative events that directly affected our business. To weak consumer demand, low retail sales and the blockade on the Polish-Ukrainian border, we must add the appreciation of the Polish zloty against the euro and other currencies in the CEE region. This is important because approximately 80 percent We make our sales outside Poland and thus obtain revenues in a different currency - adds Jacek Dziaduś, Vice-President of the Management Board for Finance at Answear.com. 

In the past period, Answear.com launched the sale of the PRM brand in new markets, which resulted in an increase in sales in the luxury-streetwear segment. The new PRM brand contributed to the increase in sales revenues in Q4 2023 by improving their dynamics by 6.4 percentage points, while online sales of the PRM brand increased by 84.7% QoQ compared to Q3 2023. and this despite the work on improving the brand's offer that has only just begun, the results of which should be visible from 2024.