BikeBiz Bicycle and cycling retail news
Silverfish has reported significant sales growth during the summer, with a 56% increase from June to October versus the same period last year.
This has led to year-on-year sales growth of 21%, and has meant the company can continue “investing with confidence”, said managing director Darren Mabbott.
“Whilst we are certainly not claiming to be unique to have benefitted from the welcome spike in sales, the summer period and the continuing strong sales are incredibly positive and afford us the ability to continue investing with confidence,” said Mabbott. “Our immediate priority has been securing supply of product for our dealer base and we have good volumes of confirmed orders with our brands which we think will see us safely through the year.
“In addition, the liquidity such good sales conversion gives us has enabled us to commit to other investments that improve service reliability and customer service. As an example, we have just approved yet another stage of development of our B2B e-commerce infrastructure which futureproofs load resilience, site speed and reliability. This follows last year’s investments in warehouse management technology which helped us manage crazy levels of shipping and ensure order accuracy.
“Most exciting of all is that it positions us very well to consider new brand investments and partnerships that fall within scope of our brand strategy and complement our existing brand partnerships. We expect 2021 to be another demanding year where managing uncertainty and dexterity will be key to success but we’re facing these challenges in a strong position. and with enthusiasm for further developing the relationships we enjoy with the many great retailers within our industry.”
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