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Sales soar 69% at Secretsales

Revenue at online flash Sales site Secretsales increased by 69% to £27.4m for the year to December 31, as the number of daily users soared by 70% year-on-year.

The business, which has three million registered members, now has 150,000 unique users visiting the website every day.

The most recent figures released by the company show that 46% of sales were made using mobile sites last year, compared with 30% in 2012.

In total, 22% of Secretsales’ revenue was through tablet usage, while 24% was via smartphone in 2013.

The number of people accessing the site using smartphones increased to 42% of all traffic to the website in 2013 compared with 30% in 2012, while tablet visits consisted of 22% of all traffic compared with 15% the year before.

In October, Secretsales said it would make a loss of around £3m for the current financial year, but co-founder Nish Kukadia said it would “absolutely” be in the black in 2014. Kukadia estimates membership of 3.5 million to 3.6 million would see it break even.

Secretsales co-founder Sach Kukadia added: “We are committed to rolling out key development, product and marketing initiatives to ensure we continue to grow throughout 2014. We have an exciting development launching in the spring which will encourage that growth, so watch this space.”

 

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  • How long can these losses go on for before the cash runs out!

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  • SALES ARE OBVIOULSY DRIVEN BY BUYING CUSTOMERS, WHICH SEEM TO BE THE CASE WITH ALL THESE TYPES OF SITES - NOT SURE IF THE MODAL WORKS GIVEN THEY DONT TAKE THE STOCK RISKS EITHER..

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  • Typical Drapers Here - Hyping a business that makes considerable loses and couldn't make a profit if it tried. It is a failure and should be reported as such.

    Why can't there be a focus on well run businesses that know what they're doing and where they're going? This magazine is never interested in those. Why?

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  • the moderator will be dispatched for above i am sure - but he does have a point!

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  • I can't really understand how a business can loose money when it doesn't buy its own stock unless it has actually sold it ? Something must not be adding up in the numbers, whether it be the additional marketing cost paid to attract each new customer or the logistics involved in sending out the goods. Its the same for Brand Alley and other such sites.

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