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On 14 March 2019, Kogan.com Ltd (ASX:KGN), an online retail company from the retailing industry group, announced the launch of Kogan Marketplace, where there are over 100,000 products available to the Kogan.com customers.
The launch of Kogan Marketplace, is a win-win-win situation for everyone. The customers of Kogan.com would have more choices to choose from ever before. Also, it will help the businesses to reach out to more customers through the Kogan.com platform. This launch is a win-win situation for the Australian businesses, as they would be able to get access to millions of customers, to grow their business and is a win for the Kogan.com business as well.
Also, many of the leading retailers have signed up to participate in the selling of more than 1000 of their products through Kogan.com.
With the launch of Kogan Marketplace, many of the household brands which includes Microsoft, Breville, Lego, Fisher-Price, Paw Patrol, SodaStream, Gillette, Gucci and Philips are available to be purchased from now onwards.
Various products that are listed on the Kogan Marketplace would be qualified for all the benefits enjoyed by Kogan.comâs consumers. It consists of Interest-Free Finance Options, as well as earning Qantas Frequent Flyer points. Further, the purchase through the Kogan Marketplace would enable consumers to use their existing Qantas or Citi Reward Points.
Also, the sellers on the Kogan Marketplace will gain access to the marketing support, payment gateways, customer support, and seamless integration with backend operations of Kogan.com.
Lazar Monin, who is the director of Marketplace said, that the company was aiming to make the most in-demand products and services more affordable to the Australian natives.
Recently on 27 February 2019, the companyâs shares dived on being accused of around 70 complaints against Kogan.com Ltd in January 2019, which was related to the quality of its products. However, one can expect that with the launch of Kogan Marketplace, the disappointed shoppers would be a little relieved in terms of support and services.
On 22 February 2019, the company declared its 1H FY2019 results, where the gross transaction value during the period was $277.3 million. The company generated revenue of $231.8 million which increased by 10.6% as compared to its previous corresponding period. As a result, gross profit also increased by 10.8%. The EBITDA for the period was $13.3 million which was down by 5.7% on its prior corresponding period. The performance during the period was driven by the result, of an increase, in the number of active customers by 32.2% year-on-year basis. During the period, the company launched Kogan Money Home Loans. The company declared a fully-franked dividend of 6.1 cents per share. In the remaining part of 2019, the company has plans to launch Kogan Money Super, Kogan Money Credit Cards, and Kogan Mobile NZ.
In the previous six months, the stock generated a negative return of 43.06%. However, the stock has generated a positive YTD return of 2.29%. The shares of Kogan.com last traded at A$3.860 (as on 14 March 2019), up by 8.12% as compared to its previous trading dayâs closing price. The company has a market capitalization of A$334.62 million with approximately 93.73 million outstanding shares.
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