Catch Group has announced its first quarter 2019 financial year results, reporting a 72.9 per cent increase in gross transaction value (GTV) to $99.39 million compared to Q1 2018 at $57.49 million.
Boosting Catch's growth was the Marketplace section of the site – where third party sellers sell products – which saw GTV growth of 843 per cent totalling $33.85 million compared to $3.59 million in Q1 2018.
The core In-stock brands – products that Catch offers from reputable brands at a discounted price – also saw an increase of 21.6 per cent to $65.54 million versus $53.9 million in the same period in 2018. According to Catch, this segment of the site now holds over approximately 35,000 SKUs.
In October, the business secured a 22,000 square metre warehouse in Melbourne to provide additional capacity to keep up with expected growth in the next five years. The business also opened up a pop-up in the ex-Toys R Us site in Chadstone shopping centre.
Catch also saw its active customer base grow to 1.2 million shoppers in the period.
Catch Group CEO and managing director, Nati Harpaz, said that the mixture of hot products and discounted prices is what attracts and keeps customers coming back.
“I’m extremely proud of the strong financial and operational results that the team here at Catch Group have delivered this quarter.
“Our ability to offer in-demand products across a wide range of categories from highly sought-after brands at great prices, continues to attract and retain customers.
“We have seen demand increase in the first quarter of 2019 as we expand our suite of products across both In-stock and Marketplace. Catch now offers in excess of 1.9 million SKUs via the Marketplace platform.
“With over 100 million annual website and app visits, the addition of a new warehouse will allow us to continue to capitalise on this potential growth.”
The results were released on 05 November.
To read more about toys on Catch, click here.