The Very Group sees small growth during Christmas period

Digital retailer Very reported positive trading results for the seven-week Christmas period, noting particular success in the toys, gifts, and beauty categories.

For the period leading up to 23 December 2022, sales grew 2.2% compared to the 2021 Christmas period, which saw Omicron drive strong performance among online retailers.

Compared to the corresponding period in 2019 (pre-pandemic), Very retail sales grew 19.6%.

Very's results also included:

• Toys, gifts, and beauty increased by 17.7%, largely driven by toys (up 26%), and beauty and fragrance (up 12.7%)
• Home increased 10.2%, driven by furniture 14.4% and homeware including textiles and home accessories 11.2%
• Fashion and sports were down 6.6%, with growth in womenswear (4.8%) and menswear (1.3%)

Lionel Desclée, CEO of The Very Group, commented: “Our team pulled out all the stops to deliver an amazing Christmas for the families we serve and a strong trading performance for the period.

“We recorded year-on-year growth in Very and grew market share despite the challenging backdrop. As expected, our customers prioritised toys, gifts, and beauty items for their loved ones, justifying our decision to invest in stock within the category.

“The impact of the high cost of living will create challenges for all retailers in the year ahead, but we’re confident that our combination of online retail and flexible ways to pay will continue to offer our customers the convenience, value, and flexibility they need.”