MyDeal looks to grow, after more than doubling in FY17

Internet Retailing

4th Dec 2017

Online marketplace, MyDeal, has reported a bumper November, exceeding $1 million in sales in a single day, and over $3 million in one week.

CEO Sean Senvirtne attributed the boost to major sales events, such as Click Frenzy, Black Friday and Cyber Monday, which introduced the online marketplace to millions of new consumers.

“November is a month which shifts us into a new paradigm, the growth does not slow down for us post Click Frenzy and Christmas,” Senvirtne said.

“We continue to grow because we have a strong focus on retaining our customers, and this has always been a key factor to us maintaining our momentum.”

The platform over the past year has also expanded into new industry verticals, such as fashion, and onboarded more sellers.

MyDeal has grown the number of SKUs on offer from 45,000 to 150,000 over the past month alone, a 233 per cent increase. Major brands and retailers retailers have joined the platform, including Kitchen Aid, Costumes.com.au, and Kitchen Warehouse.

These changes have enabled the marketplace to grow from a $15 million business to $35 million FY17, with a forecast to reach $60 million next financial year.

MyDeal will drive the growth in 2018 by placing a focus on its seller technology, streamlining processes and listing more Australian loved brands.