Answear com S A : .com records online sales in Q4 2021 - growth by 78% yoy.

Answear.com, the first Polish online multibrand shop selling fashion in the CEE region, according to preliminary data generated 282 million PLN of online sales in Q4 2021, which means growth by 78% yoy. Online sales for the whole of 2021 amounted to 721 million and increased by 67% compared to 2020, which recorded online sales of PLN 433 million. In Q4, sales revenue on an IFRS reporting basis amounted to PLN 256 million noting a Q4 2021 versus Q4 2020 growth rate of 75 per cent, while for the whole of 2021 the company generated sales revenues of PLN 680 million in 2021, which represents an increase of 66% compared to 2020.

The fourth quarter was a period in which the Company recorded record sales results with the achieved yoy dynamics. On quarterly sales in the amount of 78%, what combined with excellent results of 3Q2021 resulted in growth of the second half of 2021 on the level of 76%, that is much above the dynamics achieved in the first half of the year amounting to 53%, and despite a high base in the previous year.

Sales growth achieved by Answear.com in 4Q 2021 exceeded our assumptions for this period. They were influenced by a number of factors, including, among others, the implementation of a new communication strategy with the customer, which focused on a modern, strong and active woman and implemented in this spirit the third wide-ranging marketing campaign this year. We have improved the effectiveness of our digital marketing activities, which has translated into an increase in the number of visitors on our website and, as a result, an increase in the effectiveness of transaction completion, conversion rate and average basket value. We should also mention the further expansion of the product offer, technological improvements within the of the website, mobile application and very good reception among customers of our own brand Answear_Lab - said Krzysztof Bajołek, CEO of Answear.com.

The last quarter of 2021 was a period, in which the Company focused on the development of functionalities of own e-commerce platform, among others adding such improvements as: graphical search allowing to find products by an image and a search engine with autocomplete with additional product recommendations, supported by artificial intelligence. Answear.com introduced also new mechanisms of promotion communication, which, for example in the Black Friday period, translated conversion rate increase. The company also continued the process of optimisation in the user experience area, such as, for example, a new product page or check-out function in the mobile application.

Answear.com also increased its warehouse capacity, continued to improve and optimisation of stocking, increasing the range of the offer with further premium brands and the depth of inventory.

In 2021, the company started its operations in three foreign markets, Greek, Croatian and Cyprus. It recorded very good sales results in Q4 in these markets.

The sales results achieved in Q4, including the results in the three new foreign markets, were above our expectations, and this bodes well for maintaining a high growth rate also in 2022. This year we plan further expansion abroad and want to strengthen our position and recognition in all 10 markets where we are present. - he added.