BigBuy generated turnover of 123 million euros
Last year, Spanish wholesale platform BigBuy generated a turnover of 123 million euros. This is a growth of 15 percent compared to a year earlier. According to the company, at least 90 percent of the orders it received were cross-border.
In 2022, the Spanish dropshipping supplier generated a turnover of 105 million euros. A year later, the BigBuy Group has generated a combined turnover of 123 million euros. Its consolidated turnover is 99 million euros.
The company handled more than 2 million orders during 2023. It currently has over 8,000 brands and 400,000 products listed on the platform. Additionally, it shipped 90 percent of its orders to cross-border customers.
Q4 turnover was 30% higher than in 2022
According to the company, the growth was caused by the launch of new lines of business. These brought in revenues of more than 5 million euros. Additionally, the company’s turnover was 30 percent higher than a year earlier in the last quarter, during Cyber Week and Christmas.
‘Ability to adapt’
BigBuy has implemented new strategies in order to adapt to the recent financial crisis across Europe. “Together with the positive development of the business, we have strengthened our operational efficiency policies and achieved a reduction of 20 percent in our inventory levels thanks to the implementation of advanced stock management technologies”, said Rafael Aguado, CFO at BigBuy. “All of this has enabled us to reduce our debt with financial bodies by 40 percent, improving cash flow and reducing financial expenses.”
‘Our approach of diversification of resources has been key to this 15% growth.’
“This year has borne witness to how our strategy and ability to adapt have yielded significant results”, noted Salvador Esteve, founder of BigBuy. “Our approach of diversification and the optimization of resources has been key to this 15 percent growth, bolstering our position in the market.”