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.