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Strategic switch to online sees Beauty Bay sales surge by more than £50m

// Customers switching to online shopping during Covid-19 lockdowns helped turnover surged by more than £50m at Beauty Bay
// The company’s pre-tax profits more than doubled to £9.2 million, from £4.4 million in the previous period

Covid lockdowns and the dramatic switch to online shopping have helped turnover surge by more than £50m at the Manchester-based make-up, skincare, bath and body retailer Beauty Bay.

The business posted a turnover of £134.4 million for the 12 months to March 31, 2021, up from the £82.2 million it achieved during the prior year.

The company’s pre-tax profits also increased from £4.4 million to £9.2 million over the same period.

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It noted the increase in turnover was driven largely by a 93% jump in new customers backed up by a 55% rise in existing clients.

A statement signed off by the board said: “This increase in turnover was driven largely by increases by 93% and 55% respectively in orders from new and existing customers driven from exceptionally strong levels of new customer acquisition as customers switched away from traditional high street retail to online retail to purchase beauty products during [the] Covid-19 lockdown period[s].

“The group also continued to focus on driving its private label business and key strategic markets throughout the year which helped drive an improvement in gross profit margins to 21% in the year (2020 – 20%).

“The group continues to invest in its digital platforms to deliver ongoing capability to adapt to changing market conditions and enable it to maintain differentiation in an increasingly competitive marketplace.”

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The post Strategic switch to online sees Beauty Bay sales surge by more than £50m appeared first on Retail Gazette.



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