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

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, Fruugo's fourth-quarter revenue increased by more than 70% compared with the same period in 2020. Its holiday shopping season performance was even stronger, with Black Friday and Christmas transactions increasing by 80% compared with the same period last year, and more than 300% compared with 2019.

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

In addition, Fruugo also stated in its financial report that the total transaction value on its platform exceeded 135 million pounds in 2021, and the overall operating income exceeded 30 million pounds. At the same time, the number of retailers on the platform increased by 59% year-on-year, and the number of consumers purchasing through Fruugo also increased by 60%.

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

Dominic, Executive Chairman of Fruugo   Allonby said: “We are pleased to see Fruugo’s strong growth momentum continue into the fourth quarter. This caps off a year of continued transformational growth and great strategic progress for Fruugo.
 
Fruugo platform states that 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 different countries. Fruugo relies on the platform's proprietary technology and data science expertise, combined with the large number of products sold through the platform, to continuously tap into the global consumer demand 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, no fees" platform to help retailers sell products around the world.
 
Dominic   Allonby also said: “As we head into the new year, we will continue to focus on enhancing the platform, including developing the tools retailers use to join Fruugo, and continually working to improve the experience for Fruugo users.”

Fruugo

UK e-commerce