AIM listed online electricals business Marks Electrical market as reported a strong increase in its sales despite stock shortages across the supply chain. The business says that sales were up by more than 55 per cent for the nine months since April 2021, reaching close to £60 million as compared to £35.6 million for the same period in the prior year. The third quarter was particularly strong.
Mr Smithson said: “I am delighted by our performance in the third quarter of this year, with year on year growth of 27.4 per cent, and continued trading momentum against particularly strong comparatives.
“In order to improve brand awareness, we continued our investment in TV campaigns, leading to increased website traffic and promoting the Marks Electrical brand. This, combined with our revised approach to digital marketing, helped attract new customers to our site.
“We’ve continued to work closely with all our suppliers in order to maintain inventory levels during the period and have successfully coped with the continued surge in demand for our products, achieving record delivery numbers and ensuring we maximise the value on each vehicle. In a market with supply issues, this demonstrates the strength of our relationships with our suppliers and the agility of our business model to cope with peak demand.
“I am particularly proud of our further improvement on Trustpilot from 4.7 to 4.8, recognising the market-leading customer service that we provide.
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