Petz online sales revenue skyrocketed 44% in Q3
The Brazilian pet retailer, which opened 47 new stores in the last 3 months, earned R$884.6 million ($165.8M).
The revenue increased by 37.9% compared to 2021 when the company reached R$641.5 million ($120.2M) in the quarter.
The company’s gross profit reached R$355.7 million ($66.7M) against R$265.1 million ($49.7M) in the same period last year.
The good numbers have been driven by the online business, which generated a revenue of R$286 million ($53.6M). The figures shared by the company show that online purchases represented 35% of the total sales in Q3.
Purchases done through the app, which has more than 1 million active users per month, accounted for 70% of the online revenue. “This digitalization of customer relationships is essential for our long-term strategy in value creation,” the company said to investors.
Petz also launched a new franchise concept, expected to roll out across Brazilian cities throughout 2023. The São Paulo-based retailer will also present a “100% integrated” customer loyalty program next year.
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