Sosandar doubles revenue in past year
Sosandar has said it expects its revenue to more than double to at least £9 million in the year to 31 March.
In a trading and Covid-19 update,the online women’s fashion retailer said it experienced continued growth in customer numbers in the period with new customers up 67%. In addition, orders climbed by 109% while returns remained flat at 50%.
There was also a 144% increase in repeat orders which helped the retailer to grow its active customer base by 11%.
Sosandar attributed the rise in customer numbers to its decision to invest and focus marketing spend on TV advertising in its second and third quarters.
However, average order value for the period was down 6% due to better than expected winter weather and the impact this had on the product mix.
Looking at more current trading and the impact of Covid-19, Sosandar said it has continued to deliver revenue growth in the first two months of its new financial year with an uplift of 62%.
However, customers have switched to buying more casual clothing during lockdown, which meant the retailer had to act fast to change its new-in products to meet increased demand for loungewear, denim items and casual summer dresses.
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