- Cycliq Group (CYQ) achieves over $2 million in sales during Cyber November
- Due to the company’s targeted early sales campaign before Black Friday and ability to ship immediately, the average order value increased from $127 to $496, versus the same time last year
- This increase was driven by Cycliq’s cycling light and camera safety systems, the Fly12 and Fly6 generation 3 units
- Stock already purchased is currently in the shipping process with completion expected in early December
- Cycliq shares are in the green up 10.5 per cent to trade at 2.1 cents
Cycliq Group (CYQ) has achieved over $2 million in sales during Cyber November.
The company said due to its targeted early sales campaign before Black Friday and ability to ship immediately, the average order value increased from $127 to $496, versus the same time last year.
This increase was driven by Cycliq’s cycling light and camera safety systems, the Fly12 and Fly6 generation 3 units.
Cycliq said inventory accumulated over past months to ensure sufficient stock was able to meet customer demand.
Additionally, all stock already purchased is currently in the shipping process with completion expected in early December.
The company will continue its recent policy of not selling any product until inventory arrives via the manufacturer.
An additional line of accessories such as reflective jackets, are expected to be in stock in the coming days.
Cycliq chairman Craig Smith-Gander is proud of the achievement.
“We are extremely proud of our restructured and refocused sales and marketing team in achieving this outstanding result during November. Sales have been brisk, ahead of plan and, more product is arriving to continue the sales momentum into the New Year.”
Cycliq shares are in the green up 10.5 per cent to trade at 2.1 cents at 12:07 pm AEDT.