Leveraging the marketplace boom, the first half of FY19 has revealed record growth for the Catch Group with no sign of slowing down.
Catch has reported impressive growth, hitting new records for the first half of FY19. The Group’s gross transaction values rose 62 percent in this 6-month period to $254 million. The announcement of its unaudited results also revealed more than a four-fold jump in its marketplace GTV to $90 million.
“Catch Group continues to meet ambitious growth plans. Our hybrid marketplace and in-stock strategy has delivered record GTV for the business,” says CEO Nati Harpaz.
Sales from the marketplace’s in-stock offering (with more than 38,000 difference SKUs) rose 20 percent to $163 million. The marketplace itself now boasts in excess of 1.7 million SKUs by more than 1,000 third-party sellers.
“We continue to grow our significant active customer base through smart and efficient marketing, great deals, exceptional customer service and an enjoyable shopping experience,” Harpaz adds.
Active customer growth was 54 percent year on year at the end of the quarter.
Since Catch changed its model to become a marketplace in June 2017, it has launched multiple new products and services, including mobile phone plans through Catch Connect and personal loans. It also launched a pop-up store in Chadstone capture to the bricks-and-mortar market as well as the opening of a new 22,000 sqm warehouse near its current facilities in Truganina in Melbourne.
“The Catch Marketplace, which launched 18 months ago, is certainly proving to be a winner with Australian consumers looking for a wider offering from the brands they trust,” Harpaz tells Power Retail. While we pride ourselves on our competitive core offering against the likes of Amazon and eBay, our extended offering by way of the marketplace has cemented us as a major force in the e-commerce sector. Additionally, being the only Australian player in the leading pack is not only something we are immensely proud of, we believe it also puts us a step ahead of the competition as our own market and the demands or our customers is something we know inside out,” he explains.
“What makes our marketplace different from our competitors is the curated offering. We choose to display a carefully selected number of products from a handful of respected and proven sellers, rather than allowing the same product to be sold by a number of sellers which can leave customers overwhelmed with deciding who to trust.”
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