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Naked Wines sales rose by 73% in July

Naked Wines has said it expects total sales for July to be 73% ahead of the same month last year after new customers acquired during the… View Article

FOOD & DRINK

Naked Wines sales rose by 73% in July

Naked Wines has said it expects total sales for July to be 73% ahead of the same month last year after new customers acquired during the Covid-19 pandemic made further purchases.

In a trading update ahead of its AGM, the company said the increase will bring total sales growth in the first four months of its new financial year to 76%.

Nick Devlin, Naked Wines chief executive, said: “I’m pleased to report continued strong rates of new customer growth and particularly strong repeat trading momentum as we see evidence of new customers recruited during the Covid-19 pandemic converting to repeat customers. I’m especially grateful for the incredible work of our teams around the world who have enabled us to deliver this step change in performance under challenging operating conditions.”

New and repeat customer sales in the period have risen by 185% and 58% respectively. As a result of the uplift, Naked Wines is predicting that total sales in its full year will be around 40% higher than in the previous 12 months. 

Devlin added: “The evidence we are seeing across our markets is consistent with our view that Covid-19 has served as an inflection point for the online wine market, with Naked uniquely placed to benefit from that. We have the balance sheet strength and operational agility to enable Naked to continue to focus on ways to accelerate growth and take advantage of the opportunities presented by the new and evolving consumer landscape.”

 

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