British e-commerce Fruugo's revenue grew by more than 70% in the fourth quarter!


Author:Guo Wenpei
Source: ennews

Recently, Fruugo, the largest local e-commerce platform in the UK, released its fourth quarter performance report, and its overall revenue performance was very impressive. According to the financial report, the revenue of Fruugo in the fourth quarter increased by more than 70% compared with the same period in 2020. The performance of its holiday shopping season was even stronger. The trading volume during the Black Friday and Christmas period increased by 80% compared with the same period last year, and more than 300% compared with 2019.

Fruugo said that its strong performance in the holiday shopping season reflected the global scalability of Fruugo platform and technology and the continuous and rapid growth of cross-border e-commerce in the world.

In addition, Fruugo also said when announcing the financial report that in 2021, the total transaction value on its platform will exceed 135 million pounds, and the overall operating income will exceed 30 million pounds. At the same time, the number of retailers on the platform has increased by 59% year on year, and the number of consumers who purchase through Fruugo has also increased by 60%.

Fruugo said that in 2021, more than 91% of the completed transactions will be cross-border transactions, 82% will be cross currency transactions, and more than 90% of the revenue on its platform will come from shoppers outside the UK.

FruugoDominic, Executive Chairman AllonbyHe said: "We are very pleased to see that Fruugo's strong growth momentum continued until the fourth quarter, which brought a successful end to a year of continuous transformation and growth and great strategic progress for Fruugo.
The platform said its mission is to enable retailers around the world to sell their products to consumers around the world to meet the different needs of consumers in various countries. Fruugo relies on the platform's proprietary technology and data science expertise, combined with a large number of products sold through the platform, to continuously tap the needs of global consumers for popular products and categories.
At present, many traditional e-commerce retailers and brands are struggling to cope with the impact of the global supply chain crisis. Fruugo can provide retailers with a "no sales and no cost" platform to help retailers sell products around the world.
 AllonbyHe also said: "In the new year, we will continue to focus on enhancing the development of the platform, including developing tools for retailers to join Fruugo, and constantly working to improve the experience of Fruugo users."

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