Shaver Shop’s Total Sales Up 16.4% In FY20, Online Sales Double
Shaver Shop’s total sales increased by 16.4% to $194.9 million in FY20, while the grooming retailer’s online sales more than doubled, up 103.5% at $47.8 million.
Now, Shaver Shop’s online sales account for 22.7% of the total.
“The investments we made in our digital platforms and capability over the past 18 months drove strong growth across the year. Importantly, this investment enabled Shaver Shop to manage the surge in online sales in the fourth quarter as customers moved to online ordering,” said Cameron Fox, Managing Director and CEO of Shaver Shop.
“More recently, the flexibility and strength of our omni-retail approach has again proved invaluable in Victoria, where despite Stage 4 store closures in metro Melbourne, overall sales have remained robust.”
According to the Shaver Shop, these record sales have partly been driven by an acceleration of customers adopting do-it-yourself personal grooming, and facilitated by the retailer’s online channels.
“It’s been an incredible year for Shaver Shop. The resilience and adaptability of our business has been tested and proven itself. Our record financial results this year could not have been accomplished without the amazing efforts and dedication of the entire Shaver Shop team,” said Fox.
The company has already made a strong start in FY21, with sales up 28.2% and online sales increasing 187%.
Shaver Shop has 123 stores across Australia and New Zealand.