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MyDeal delivers record year

The online retail marketplace for home and lifestyle products, provided a trading update ahead of the company’s fourth-quarter report.

Unaudited results for FY21, show MyDeal has delivered record Gross Sales of $218.1 million, up 111.1% on FY20.

The increase was driven by continued growth in active customers which reached a new record of 894,225 as at 30 June 2021, growing in excess of 83.1%.

The company’s Private Label segment also made a strong first-year contribution of $8.8 million to Gross Sales, after soft-launching late in FY20.

MyDeal believes it is strongly positioned to deliver sustainable growth through a growing active customer base and continued e-commerce adoption

Commenting on the results, CEO, Sean Senvirtne said: “MyDeal has again delivered above industry growth rates with Gross Sales of over $218 million in FY21 by continually building on our value proposition. Since the launch of the MyDeal app in May, it has been extremely well received, being highly rated and highly utilised. We already see a higher customer conversion rate coming through. We remain focussed on building and augmenting our proprietary technology platform which is proving to be a core scalable asset of the business.”

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