Beauty Bay sales rise due to switch in pandemic shopping habits
Beauty Bay has released its annual financial report for the year ending 31 March 2021, revealing a surge in sales caused by consumers switching to online shopping during the COVID-19 pandemic.
The beauty retailer reported a £134 million turnover, representing an increase of 63% compared to financial year 2020. The turnover was driven by an increase of 93% and 55% in new and existing customers.
Strong sales were generated as customers switched from high street physical retail to online retail during the COVID-19 lockdown period. The online retailer's EDBITA rose to £10.6 million, against £5.4 million in 2020.
Beauty Bay's pre-tax profits increased from £4.4 million to £9.2 million over the same period. The number of people employed by the firm during the year increased from 129 to 150.
During the period, Beauty Bay also invested £1.6 million in intangible assets, including its web and mobile app platforms, to produce best-in-class user experiences. The beauty brand highlights the strong growth in customers using its app.
Emphasised by Beauty Bay, the brand remained focussed on its delivery packaging goals to ensure no unnecessary waste is generated. This was helped by the brand's efforts to monitor the market for new emerging materials and technology, as well as working with leading suppliers in the field. Beauty Bay's packaging if made from 100% recycled and recyclable materials.