Moonpig bounces back from Royal Mail strikes to hold on to post pandemic loyalty

Moonpig bounces back from Royal Mail strikes to hold on to post pandemic loyalty

Moonpig has reported its largest ever week of gross sales within the UK because of customers scrambling for Mom’s Day playing cards.

The listed retailer, which permits customers to personalise playing cards and items, stated it now expects annual income for the yr ending 30 April to stay at £320m, regardless of beforehand warning that Royal Mail strikes haddisrupted commerce for the interval.

Nickyl Raithatha, chief government of Moonpig stated: “At present’s replace is testomony to the resilience of our enterprise mannequin, as demonstrated by a report UK Mom’s Day.”

“Moonpig group’s main market positions, sturdy buyer retention, excessive profitability and strong money era equip us to navigate all phases of the financial cycle.”

The corporate stated that whereas it stays conscious of the troublesome financial circumstances it nonetheless expects revenues to proceed rising.

The group has seen its share worth fall 40 per cent since final yr after it revealed it could deal with playing cards as an alternative of smaller items similar to flowers and goodies.

Russell Pointon, director of client at Edison Group, stated: “Regardless of the problem of Royal Mail strikes and the resumption of in-person purchasing within the wake of the pandemic, FY2023 has to date delivered broadly optimistic outcomes for Moonpig.

“Strategic investments in know-how and information and a strong market marketing campaign have served to bolster the model’s revenue.

Furthermore, whereas the need of on-line purchasing could have handed, the market share afforded to Moonpig throughout the pandemic continues to be reinforcing the group’s model recognition.”

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