Gear4Music continues sales surge

Strong own-brand and international sales helped Gear4Music record a surge in like-for-likes in the run-up to Christmas.

Following continued strong growth in the UK and Europe, the online retailer achieved £24.38 million in total sales during the four months to 31st December, a 55 per cent increase compared to the same period in 2015.

Sales in the UK alone went up by 29 per cent in the same month period, from £11.6 in 2015 to £15.01 in 2016. Meanwhile, international sales were up 129 per cent from £4.08 million to £9.36 million.

The firm also experienced 63 per cent growth in sales of own-brand products.

“We were particularly pleased with our own-brand sales performance during the period, which was driven by improving conversion rates and investment in additional stock,” said chief executive, Andrew Wass.

“As a result of this and a controlled overhead cost base, the board is now confident that Gear4music is well placed to deliver profits for the full year that will be ahead of the increased expectations signalled at the half year stage. As the business continues its programme of investment into distribution centres, websites, systems, products and people, we remain confident of delivering on our growth strategy.”