MyDeal has had a November to remember, posting its first $1 million plus day with 100% growth and a 1000% increase in transactions during Click Frenzy.
Australian online retail marketplace MyDeal.com.au reached a major milestone last month, exceeding $1m in sales a day and over $3m in one week. That adds up to 100% growth in November, with a stellar execution on Click Frenzy delivering over a 1000% increase in transaction volumes.
Established in 2011, the online marketplace is one of Australia’s most experienced operators, built with its own proprietary technology enabling it to grow from $15m to $35m in FY17, and repurpose its platform to expand into new industry verticals. With a rise in sales in November, it will be advancing to reach $60m next financial year. Earlier this year the group secured $5 million in funding to fuel growth.
Ranking sixth on the BRW Fast 100 this year, MyDeal’s growth has emerged after rapidly growing its number of SKUs by 233% in the past month, shifting its offering from 45,000 to over 150,000 signed SKUs from October to November. It has also engaged in a major diversification strategy in the past year to attract new sellers to the platform and expand its reach of the market.
As MyDeal has cemented its marketplace leadership in Australia, with Optus coining it the “Online Retailer Of The Year” major retailers have flocked to join the MyDeal Marketplace platform, including Kitchen Aid, Costumes.com.au, and Kitchen Warehouse.
It’s aggressive customer acquisition strategy in the last twelve months has included leveraging major seasonal sales events to promote further growth. One of the factors contributing to MyDeal’s spike in November was Australian sales event Click Frenzy which promoted the online marketplace to millions of consumers. At one given time there were over 18,000 concurrent users browsing site, increasing the number of transactions by over 1040% that day.
On the growth experienced in November CEO of MyDeal Sean Senvirtne has commented that “November is a month which shifts us into a new paradigm, the growth does not slow down for us post Click Frenzy and Christmas. We continue to grow because we have a strong focus on retaining our customers, and this has always been a key factor to us maintaining our momentum.”
MyDeal will continue to drive the growth in 2018 by placing focus on its seller technology in 2018, with a focus on streamlining processes and listing more Australian loved brands.