Answear.com increases sales revenue by 26 pct. y/y in Q3 2024

Answear.com, a leading e-commerce provider of fashion, home & lifestyle and outdoor products in the CEE region, summarizes its preliminary sales results for Q3 of this year. Preliminary sales revenues amounted to PLN 344 million, up 26 pct. y/y. The dynamics achieved indicates the Company's successful return to a path of high sales growth. The good sales results are the result of, among other things, a well-utilized summer sales period and a wide-ranging marketing campaign.

- We have a good sales quarter behind us. We are pleased that we have once again embarked on the path of dynamic sales growth, which distinguishes us from the competition and allows us to position ourselves as one of the fastest growing fashion e-commerce in Europe. We took good advantage of the summer sales period, we also properly selected the autumn collection, which significantly influenced our results in the third quarter of this year - comments Krzysztof Bajołek, Chief Executive Officer of Answear.com.

Answear.com's sales have clearly accelerated. In Q1 of this year, sales revenue growth was 6 pct. y/y, while in Q2 of this year it increased to 20 pct. y/y. Currently, it has already reached 26 pct. y/y. This is due, among other things, to intensive marketing activities, consistent premiumization of the offer, strengthening of the brand and gradual improvement in consumer purchasing power.

Answear.com has conducted a marketing campaign called "Dress life in what is precious." The project was launched in May this year and continues in the current season. The past campaign was implemented in 11 markets, its message was present in TV, cinemas, radio, OOH, DOOH and widely in digital.

- The sales dynamics in the past quarter satisfies us. However, it is worth remembering that Q3 is a traditional selling time in our industry, which naturally reduces margins. Nevertheless, given the solid sales performance, we are optimistic about Q4, which in our industry is a period of highest revenues and higher margins. In addition, marketing expenditures will not burden the result so significantly, due to the higher revenue volume achieved at that time - adds Jacek Dziaduś, Chief Financial Officer of Answear.com.