Sosandar, an online womenswear brand, has reported revenue growth of 62 per cent for fiscal year ended on March 31, 2020 compared to previous year. The company has also reached an agreement with clothing retailers, John Lewis and Next, and it will start selling through their online platforms in autumn/winter 2020. Order growth YoY grew 44 per cent.
Addition of Klarna to the website, has provided an extended payment option for Sosandar customers.
Company further stated that it has seen a shift to more casual ranges as customers seek out comfort with fewer social occasions calling for more formal product types. As a result, the business has quickly changed new-in products to meet these changing needs and has had a number of loungewear items, denim and casual summer dresses which have sold out in days and quickly repeated, as well as benefiting from customer waitlists which ensure quick sell through.
According to company’s report, browsing behaviour has increased, with traffic up 98 per cent year on year. The nature of this search activity has meant lower levels of conversion as customers are either browsing as a pastime or making more considered purchase decisions.
In the initial period of lockdown, like much of the industry, the business experienced a dip in demand and so promotions and discounts were utilised to stimulate purchases. This impacted margin in the early weeks of April, but the business has been able to successfully shift customers back to full price purchases with margin quickly returning to normal.