MySale upbeat as pay-later option proves popular
Cocosa owner MySale said Monday that it’s upbeat about the year ahead as its tech investment ay off and trading proves strong.
In a statement, the company said that the current financial year has “started well”, adding that “revenue growth has accelerated versus last year, gross margins are increasing and we continue to carefully control our cost base. This is delivering good growth in underlying profitability, in line with management's expectations.”
It added that its enhanced proprietary technology platform which was rolled out last year is, as anticipated, “supporting all areas of the business to reach more customers and operate more efficiently.” The Ourpay buy-now pay-later solution continues to grow its subscriber base “at a pleasing rate” and Identity Direct, the personalised goods business acquired last year, “has integrated well.”
Being able to order items and pay for them after deciding whether to keep them is becoming increasingly important for e-tailers. It is a key way to get over the issue of consumers having to make a major spending commitment in advance if they want to try multiple size, colour or style options at home.
Amazon was an early mover in the pay-later trend but others have joined the fray with Asos announcing its own try-now, pay-later option only last month.
Australia-based MySale also said it has ambitious plans for the year ahead, will be supported by “recent partnerships, product verticals and technology platform enhancements.” Ourpay will be a big part of that as it contributed to an average customer spend rise of 19% and boosted purchase frequency by 30%.
Aside from the UK’s Cocosa, the company also operates OzSale, BuyInvite and NzSale.
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