BikeExchange’s sales speed into first quarter

Dean Blake

28th Oct 2021

Online biking marketplace BikeExchange’s revenue for the the first quarter of the FY22 financial year has jumped 31 per cent to $1.2 million, with more Aussies turning to online as extended lockdowns hamper their shopping habits.

And, throughout the quarter, customers purchased a greater mix of bikes and accessories, recording a 23 per cent increase in transaction volume.

“Our business delivered strong growth in the quarter, as we began to realise the benefits of the organisational restructure undertaken in FY21 and our e-commerce first strategy,” said global chief executive Mark Watkin.

“Last year we focused our efforts on laying strong foundations for FY22, and I am pleased that we are already seeing the benefit of this investment.”

According to Watkin, the marketplace’s traffic remained strong throughout the quarter, with an annualised 24 million sessions for the period.

Part of the business’ efforts to put its best foot forward into the new financial year has been the appointment of a number of new hires.

Rebecca Boxall has joined the business as chief customer officer – the final hire of its new executive management team which also included the appointment of Derek Colfer as North America regional lead, and Sam Salter as chief sales and partnership officer.

“Our strong leadership team and structural changes ensure we are well placed for the remainder of FY22 and beyond, helping us realise our purpose of making it easy for customers to buy and sell all things bike,’ said Watkin.