Gear4music sees 42% increase in sales over the past 4 months

UK MI retailer Gear4music has announced that is has seen a 42% increase in total sales over the past 4 months from 1st September 2017 to 31st December 2017.

The online retailer saw success in both the UK and abroad.

UK sales were up 25% compared to the same period in 2016, and sales were up by 69% in Europe and the rest of the world.

On a two-year basis, sales growth was 120%, ahead of the 114% for the same period last year.

Gear4music revealed that both own-brand and other-brand revenues grew by 42% during the period, and active customer numbers were up by 38% to 450,000 at 31st December 2017, compared with 31st December 2016.

“We are very pleased with our trading performance over the last four months, with sales growth of 42% building on the 44% achieved in the first half, and trading for the year to date is in line with the board’s expectations. This has been achieved as we continue to invest in our customer proposition, marketing, people and websites, all with a view to enhancing our long-term growth prospects,” said Gear4music’s chief executive officer, Andrew Wass.

“Growth in our more established UK market has remained strong alongside very strong growth in our international markets which are being further driven by an improved delivery proposition as we continue to scale up our European hubs. Our Swedish distribution centre now fulfils over 50% of all our Scandinavian orders, and our German Distribution centre, which became operational just 10 months ago, dispatched over 800 orders on its busiest day in December.

“We are confident that the Group will continue to grow rapidly over the medium and longer term, as we continue our mission to become the best musical instrument and equipment retailer in Europe.”



About Laura Barnes 427 Articles
Founder/Publisher of UK musical instrument industry publication MI Focus.