Barcelona-based fast-fashion darling Mango has set a target of reaching one billion euros ($1.2 billion) in online sales in 2021 to celebrate the 20th anniversary of its e-commerce platform, which opened to the world in 2000.
The company said on Wednesday that it has seen record sales figures in its online business. Revenue for the year through October is already more than 5 percent above the 564 million euros ($669.4 million) in last year’s online sales. Mango expects to close the year with sales of 800 million euros ($949.5 million), a year-over-year increase of 40 percent.
“Reaching one billion euros is something we would never have imaged when we launched our e-commerce in 2000. It is a hugely ambitious target, but we are going to put all our efforts and hard work into achieving it. We have a great team of professionals and I am convinced that we will achieve it,” said Elena Carasso, Mango online and customer director.
Mango said it saw in increase in online sales primarily from nearly three million new customers, with 900,000 added during the months of the initial coronavirus lockdown, when sales leapt more than 50 percent. Mango transferred more than 200,000 clothing items from stores to its e-commerce facilities, enhancing the online assortment and helping to power digital growth. It also adapting messaging to the profile of each customer in its database.
Mango is working on hyper-personalizing the customer experience and using new tech including artificial intelligence to improve after-sales service, in addition to developing self-service tools. It also plans to include omni-channel retailing in franchises in online operations, allowing franchisees to manage online operations in remote markets where the partners is the sole operator in the physical store network.