Gear4Music sales up 42% in run-up to Christmas
Online musical instruments retailer Gear4Music achieved a 42% increase in total sales in the four months to 31 December as it continued to enjoy strong trading in the UK and Europe.
By the end of the period, the retailer had grown its number of active customers by 38% to 450,000 from the same time in the previous year.
Meanwhile, website conversion improved to 3.3%, up from 3% a year ago.
Gear4music's chief executive Andrew Wass said: "We are very pleased with our trading performance over the last four months, with sales growth of 42% building on the 44% achieved in the first half, and trading for the year to date is in line with the board's expectations.
“This has been achieved as we continue to invest in our customer proposition, marketing, people and websites, all with a view to enhancing our long-term growth prospects.”
Wass said growth in Gear4Music’s more established UK market has remained strong alongside ”very strong” growth in its international markets which are being boosted by an improved delivery proposition as the retailer scales up its European hubs.
He added: “We are confident that the group will continue to grow rapidly over the medium and longer term, as we continue our mission to become the best musical instrument and equipment retailer in Europe."
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