Kogan Marketplace sees sales nearly triple year over year

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Kogan Marketplace sees sales nearly triple year over year
Ruslan Kogan (Kogan)

Kogan Marketplace's gross sales have grown by 194.3 percent in the first half of FY21 compared to the same period last year, according to an ASX half-year report.

Gross sales for the online retailer's third-party listings division netted the company over $150 million in gross sales and accounted for 11.7 percent of the gross profit of the company as a whole for H1 FY21.

Overall, Kogan Group saw a massive year over year increase, including $638.2 million in gross sales, up 97.4 percent from the prior year.

It also reached a new milestone as Kogan.com surpassed 3 million customers.

“We launched Kogan.com to change the retail industry nearly 15 years ago, and we would’ve been cheering if we helped 3,000 customers that year,” founder and chief executive Ruslan Kogan said.

“So even though well over three million customers used Kogan.com in the last 12 months, we feel like we’re just getting started. We’re not just focused on today or tomorrow, but how we’ll continue to delight all our customers on our 30th birthday. This includes significant improvements to our logistics network, speed of delivery, range expansion, and improved competition on our platform to drive even better experiences for our customers.”

The New Zealand online retailer Mighty Ape acquisition has proven to be a good bet so far for the company, bringing in a gross profit of $5.4 million.

Kogan also saw some growth in its new verticals with Kogan Mobile up 12.9 percent YoY, contributing over 4.8 percent of the Group’s total gross profit and Kogan Internet customers grew 17.9 percent YoY. 

Travel and Insurance unsurprisingly saw negative growth in the face of travel restrictions due to the COVID-19 pandemic.

The company also absorbed a $300,000 fine from the Australian Communications and Media Authority over spam complaints.

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