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Pandora’s Q2 Sales Down But Online Growth Up 176% August 20, 2020 (0 comments)


Copenhagen, Denmark—Jewelry company Pandora, founded in 1982, based in Copenhagen, Denmark shows Q2 sale down while online growth abounds. (Image courtesy of Professional Jeweller.)

According to a related WWD article, Pandora reported a 38 percent decline in organic sales over the second quarter and said it targets an annual sales decline in the range of 14 to 20 percent, a broad range that will be sharpened as the year goes on, according to Lacik, the company's CEO.

“The pandemic may leave a lasting effect on consumer behavior, our ways of working and the use of technology,” said the executive.

For a closer look at e-commerce sales, Professional Jeweller offers some indepth insights.

Pandora’s online business is proving itself to be completely resilient to the global coronavirus pandemic after revealing that sales through its ecommerce operations soared 176% during Q2.

Although the growth can be heavily attributed to customers browsing online in the absence of physical stores being open due to lockdowns, it also reflects the huge investment that Pandora has been making online as part of its omnichannel strategy.

The move of a relative larger part of sell-out from wholesale to online is positively impacting organic growth compared to sell-out growth as Pandora benefits from the higher average selling price (ASP) in online sales.

Pandora said its online stores continue to perform better than before the global lockdown based on both increased traffic and a higher conversion rate.

Read the full story here.

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