ETMall, a subsidiary of Eastern Media International Corporation (2614), announced today (10th) that its consolidated revenue from January to October, including Strawberrynet and Mama Bear Shopping, reached NT$23.02 billion, showing an annual growth rate of 17.1%, and consolidated net earnings of NT$1.44 billion—a 28.5% increase compared with last year. The company’s net earnings per share (EPS) currently stand at a record high of NT$14.13, an increase of NT$3.13 from the same period last year and surpassing the NT$14.11 of 2020. The biggest e-commerce event of the year, Double 11, officially started on November 1. This year, ETMall is introducing promotions such as lucky draws and ET coin rebates to stimulate buying. Coupled with the Quintuple Stimulus Vouchers, ETMall is prepared to a hit a new historic high in this year’s Double 11 shopping festival.
Thanks to the increase in online sales brought by the pandemic, the first week of the Double 11 period started off with a huge swing. As of November 9, total sales across all channels for ETMall have reached $880 million, of which the volume of sales in the online segment has increased by nearly 60% compared with last year.
According to ETMall estimates, most sales during this period came from high unit priced electronic devices, including cellphones, tablets, and computers, which exhibited a growth of 92% compared with last year. The second largest category came from fashion wears and household goods, each exhibiting a 27% and 22% increase. In terms of best-selling items, the winter climate in combination with the subsiding pandemic resulted in a surprising rise of heat retention wear and functional textile products such as graphene shapewear, fleece sweaters, and even consumables like black sugar and ginger tea. Many consumers also took advantage of the Double 11 to buy dietary supplements and year-round best-selling cosmetic products.
For the Double 11 period, ETMall rolled out shopping initiatives for both its online and TV sales platforms. For the online platform, customers were encouraged to make purchases in groups of 3 to 5 people to enjoy a rebate of up to 11% on purchases. Group purchases were also eligible for a lottery with a chance to win an NT$11,111 gift card. For the TV platform, the channel is running a 12-day long cosmetics and home appliance warehouse-direct sales special. To further stimulate buying power, ETMall also began giving out ET coins for purchases made starting in August 2018. To date, over 19 billion ET coins have been given out. They have served as a highly effective tool to retain customers. In celebration of Double 11, ETMall also launched a lottery to win iPhones 13. Orders made on any ETMall platform allow you to enter a lottery for the latest Apple iPhone for 11 ET coins. Eleven iPhones 13 are available as prizes for prospective buyers.
In anticipation of significant sales growth for this year’s Double 11, ETMall predicted a three-fold increase in logistics demand. In order to relieve warehouse pressure, the company has preemptively put the 33,060-m2 Yangmei warehouse into service to meet the logistics demand for the peak season.