Weeks after announcing it will launch a social e-commerce marketplace to bring Australian brands to Asian influencers, Daigou business AuMake has revealed its total revenue for Q1 of FY21 reached $3.2 million – 19 per cent down on the prior quarter.
And while online revenue made up $2 million of this figure, physical store revenue jumped 83 per cent on the same period of last year, with sales bolstered by a gross margin of 18 per cent.
The fall in overall revenue was attributed to AuMake’s decision to stop supply of low margin products to a number of its business partners.
“Our focus during the September quarter squarely centered on [the launch of our social e-commerce marketplace], which saw a reallocation of resources and the launch of our new online platform in early October,” chairman Keong Chan said.
“There are strong activity levels on the new online platform with a record number of new members who have never shopped through AuMake before. This is in line with our influencer acquisition strategy as part of our broader strategy.”
AuMake’s traditional online offer continued to service the business’ most loyal customers, and holds margins of over 50 per cent due to its ability to promote AuMake owned-brand products. The new marketplace will eventually consolidate AuMake and Broadway Online’s databases onto a single platform.