Online retail marketplace for home and lifestyle products, MyDeal.com.au Limited (ASX: MYD) has provided a trading update ahead of the Company’s Q4 FY21 Quarterly 4C Report.
Unaudited results for FY21, show MyDeal has delivered record Gross Sales of $218.1 million, up 111.1% on prior year. Gross Sales were driven by continued growth in active customers which reached a new record of 894,225 as at 30 June 2021, growing in excess of 83.1% on prior year. Private Label also made a strong first year contribution of $8.8 million to Gross Sales for the year, after soft launching late in FY20.
Commenting on the results, MyDeal.com.au CEO, Sean Senvirtne said:
“MyDeal has again delivered above industry growth rates with Gross Sales of over $218 million in FY21 by continually building on our value proposition of providing superior value to our customers and marketplace sellers.
“We have placed ourselves in an enviable position to harness the increased demand and ongoing transition to e-commerce, with active customers now exceeding 894,000. Growing the active customer base signifies the trust consumers have placed in our products, brands and shopping experience.
“Since the launch of the MyDeal app in May, it has been extremely well received, being highly rated and highly utilised. We already see a higher customer conversion rate coming through, which makes me very excited about the future of this platform and its contribution to our growth.
“Our Private Label business has delivered a strong Gross Sales contribution and continues to grow. We remain focussed on building and augmenting our proprietary technology platform which is proving to be a core scalable asset of the business and have invested in securing high calibre talent across all teams. The future of MyDeal is brighter than ever.”