- Buy now, pay later provider Laybuy (LBY) has seen record sales during its Laybuy Mania sales event in April
- Mania is an online sales event that occurs twice a year, which allows merchants to offer exclusive deals and discounts to Laybuy customers
- In the United Kingdom, Laybuy recorded a gross merchandise value (GMV) of NZ$2.9 million (around A$2.7 million), a 70 per cent jump on Mania April 2020 and a 32 per cent increase to Mania November 2020
- In Australia and New Zealand, Laybuy recorded a GMV of NZ$1.9 million (approximately A$1.7 million), a 3 per cent increase on last year
- On the market this afternoon, Laybuy is down 1.16 per cent, trading at 85 cents per share
Laybuy (LBY) has seen record sales during its Laybuy Mania sales event in April.
Mania is an online sales event that occurs twice a year. It allows merchants to offer exclusive deals and discounts to Laybuy customers for 48 hours in the U.K. and 24 hours in Australia and New Zealand.
During the two day event, in the United Kingdom, Laybuy recorded a gross merchandise value (GMV) of NZ$2.9 million (roughly A$2.7 million), a 70 per cent jump on Mania April 2020 and a 32 per cent increase to Mania November 2020.
In Australia and New Zealand, Laybuy recorded a GMV of NZ$1.9 million (about A$1.7 million), a 3 per cent increase on last year’s Mania April event.
Mania delivers the second-highest daily GMV in Australia and New Zealand, only just behind Black Friday, with several large merchants like Cotton On, JD Sports and Boohoo reporting their highest trading day on the Laybuy platform.
Managing Director Gary Rohloff says events such as Laybuy has been important part of its strategy since the first event in 2018.
“Mania helps improve our appeal to merchants by helping them increase their sales. Of real value is our collaborative marketing approach, which sees the active promotion of discounts through both the merchant and Laybuy’s marketing channels,” he said.
“For Laybuy, Mania is also an important customer acquisition tool because it results in an increase in the number of customers signing up to Laybuy to take advantage of the discounts exclusively available to Laybuy users,” he added.
On the market this afternoon, Laybuy is down 1.16 per cent, trading at 85 cents per share at 1:20 pm AEST.