Notonthehighstreet, a popular e-commerce platform specializing in unique gifts and products, recently announced its financial results which showed a mix of challenges and improvements. The company experienced stagnant revenue overall, but there was a positive trend in the second half of the year leading to a reduction in losses. Notably, the number of active customers grew to 2.6 million, and operating profits saw a significant increase.
While total sales dipped slightly compared to the previous year, Notonthehighstreet attributed this to a deliberate shift in marketing strategy towards targeting customers with higher long-term value. The result was a nearly doubled operating profit, from £1.7 million to £3.1 million, showcasing the effectiveness of the new approach.
The company’s chairman, Darren Shapland, commended the performance of Notonthehighstreet, especially in a challenging retail environment. He specifically praised the new CEO, Claire Davenport, for her expertise in scaling businesses and disrupting markets. Davenport, who took the helm in August, outlined her strategic priorities for the company, which include continued investment in technology, improving partner and customer experiences, and driving growth.
Notonthehighstreet has been in operation for 13 years, offering a wide array of products ranging from fashion accessories and jewelry to bridal items, beauty products, and homewares. The recent shift towards targeted marketing and enhancing customer value reflects the company’s dedication to sustainable growth and providing an exceptional shopping experience for its customers.
For more information on Notonthehighstreet’s financial results and future plans, you can visit their official website here. You can also read about the latest trends in e-commerce and retail industry on a relevant news site here.
