NEWS

Very Group reports record Christmas as annual revenue exceeds £500m

Published on: 12th January 2021

Online retailer Very benefits from increase in internet shopping driven by pandemic and lockdowns.

Following on from strong trading throughout the year, Very’s sales in the run-up to Christmas showed an increase of 25.2%. Overall, annual revenues topped £500m for the first time in the company’s history. The online retailer attracted 500,000 new customers and had 139m website visits. As well as benefiting from the popularity of online shopping due to the closure of many physical stores, especially in the run up to Christmas, Very’s performance was boosted by other coronavirus trends, such as people investing in improving their homes and providing toys and equipment to keep their children entertained during lockdown.

Very Group CEO Henry Birch said: “We are delighted with Very’s outstanding performance, which shows UK families were more determined than ever to celebrate this Christmas, despite all the challenges of 2020. Because we sell everything our customers could possibly want except food, are online only and offer a range of payment options, we were perfectly placed to help a record number of people make the most of the festive period.”

The group’s record-breaking performance was supported by the company’s new fulfilment centre, which successfully processed 3.9m orders during the peak trading period. Henry Birch described this as “an incredible achievement for a facility that only launched in March this year, when the first national lockdown was announced.”

The group said it had not yet seen any significant operational impact as a result of Brexit.

Henry added: “While the economic picture remains unpredictable, we have strong momentum as we begin the year. I believe our resilient, flexible and proven business model, which is online, multicategory and offers customers flexible payment options, will continue to help us thrive in 2021.”

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