Showroomprivé back on the rise in the third quarter
Showroomprivé's turnover is down 13.9% over the first nine months of the year, to 450.1 million euros. Figure that is not 5.4% higher than those of the same period in 2019, and which are a rebalancing after the strong growth experienced during the various confinements.
Sales volume for the first nine months of the year was 639 million euros, a contraction of 11.1%. In this year 2022, where the political and economic context forces buyers to make compromises, the number of customers has fallen from 2.7 to 2.4 million, and this 12.2% decline has even affected the platforms "loyal" customers. Over these nine months, the average number of purchases per buyer fell from 3.7 to 3.3 orders. A rare positive point in these three quarters: the average basket has increased by 8.4% to 51.8 euros per order.
But these figures are mainly due to the first half of the year. The third quarter shows a 7.5% growth in net sales, to 144.7 million euros, with 116.4 million euros (+6.7%) for French online sales, and 26.4 million euros (+11.4%) for international online sales. A quarterly balance that is part of a favorable differential: at the end of the confinement of spring 2021, the third quarter of that year had experienced a certain "return to normal", with a first half carried by health restrictions.
"The significant increase in activity in the third quarter testifies to the Group's good positioning and the relevance of its lines of development in a still uncertain market environment," to CEO David Dayan.
"We are also continuing our diversification and premiumization, with the integration of The Bradery, which has made a positive contribution to revenue growth in recent months. Despite the slight rebound in activity during the third quarter, the rest of the year remains in an uncertain environment (...). Showroomprivé is working to protect its margins in an environment marked by cost inflation and a more wait-and-see attitude on the part of consumers, and to consolidate a profitable business model over time.
Caution is therefore the order of the day for Showroomprivé, as the fourth quarter begins, which is always strategic for sales platforms. And whose results are particularly expected after the year 2021 was in the green. After three loss-making years before the health crisis, the group had indeed managed to post 27.3 million euros in profits and 23.8 million euros in revenues (+3.8%), while the volume of sales increased by 3.1%.
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