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Very Group posts strong Christmas trading performance

Very Group has put in a strong Christmas trading performance with revenue up 11.5% on a two-year basis in the seven weeks to 24 December. In… View Article

GENERAL MERCHANDISE

Very Group posts strong Christmas trading performance

Very Group has put in a strong Christmas trading performance with revenue up 11.5% on a two-year basis in the seven weeks to 24 December.

In a trading update, the group said Very retail sales climbed by 21.9% compared to two years ago as the retailer achieved double digit growth in the electricals, home, and fashion and sports categories.

However, group revenue was down 3.3% compared to the same period a year ago when the UK was subjected to Covid19 restrictions,

Henry Birch, chief executive at The Very Group, said: “Very recorded outstanding double-digit growth compared with the pre-pandemic festive season in 2019, as our customers enjoyed a more ‘normal’ Christmas. They bought back into fashion, focused on wellness, got their hands on the latest consoles and doubled-down on Christmas decorations to make up for last year’s more muted celebrations.

“Our performance was supported by our strong supplier and delivery partner relationships and our highly automated fulfilment centre Skygate, which enabled us to consistently deliver for our customers throughout the period.”

Very said its fastest Christmas order was processed and despatched in 18 minutes and 32 seconds by Skygate, which ran on 100% renewable energy during a peak trading period for the first time.

The group’s automated chatbot was used by 137,000 customers a week and helped to reduce calls at the Very contact centre by 17% year-on-year.

Looking ahead, Birch said “While the next 12 months will no doubt bring challenges as we all continue to navigate life around Covid-19, the last two years have shown that our model, which combines multi-category digital retail with our Very Pay platform, is both highly resilient and highly relevant. We’re going into the new year with great momentum and are well-set to keep building on our success.”

 

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