Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

Cash Converters sees online retail rise

Linked InTwitterFacebookeCard

Payday loan and pawnbroking company Cash Converters says it is is starting to see its online retail business take off.

The company, which today reported its full-year results for 2011 to the London Stock Exchange, said ecommerce sales of secondhand products, traded in for cash at its stores, were now starting to reach “commercial quantities,” making sales worth some $2.1m (£1.27m) in sales in 2011. Cash Converters runs the webshop online service on behalf of its franchisees, who pay it commission. The company also said the site was acting as an effective marketing tool. “We have seen new customers visit stores and purchase product after their first contact with the brand commerced with their online search,” it said.

The Cash Converters website, where customers can also apply for payday loans, has 107,296 registered users in the UK and 31,619 in Australia. In its latest financial year it saw 2.1m unique visitors to the UK site and 1.1m to the Australian site.

The update came as Cash Converters, a global network with headquarters in Australia, reported record net profits, rising by 27.5% to $27.6m (£16.7m) in the year to June 30 2011, while revenues rose by 47.6% to $186.1m (£112.6m).

Linked InTwitterFacebookeCard

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter