Kogan has reported a surge in gross sales, buoyed by an increase in Kogan First signups, and strong growth in its Kogan Marketplace and Mighty Ape digital spaces.
Gross sales increased 21.1 per cent year-on-year for the September quarter as active customers grew 30.7 per cent, to 3.35 million.
Kogan First memberships leaped an impressive 171.1 per cent year-on-year during the September quarter, to reach 210,000.
Gross profit has declined 1.7 per cent, but warehousing costs are way down as Kogan reduced its inventory bloat, and closed ineffective warehouse spaces.
In doing this, Kogan managed to reduce inventories from $227.9 million — $191.8 million of which was warehouse — to $194.3 million (including $154.2 million in warehouse).
“When it comes to delighting our customers, we set a very high standard for ourselves,” explains Kogan.com Founder & CEO, Ruslan Kogan.
“I am proud of the way the Kogan.com team has continued to deliver on our mission of making the most in-demand products and services more affordable and accessible.
“While overcoming many challenges, the Kogan.com team has continued to deliver strong growth while investing in the future of the business and incubating new ways to deliver more value to our customers over the long term.”
