Invoice from Cash Converters 141 million euros in 2023. This corresponds to growth of 5% Compared to the previous year. Furthermore, Cash Converters Group reiterates its commitment to the digital channel, now generates 25% of its sales through its online channelsi.e. around 36 million euros.
The company points out that this increase is due in large part to the Increasing the quality of used products. This also increases the satisfaction of its customers and the demand for items of this type. “Our customers no longer just buy low-quality products, but are increasingly looking for and buying high-quality products. In this sense, The average ticket has increased by almost 90%, from €40 to €75 in the last 3 years. “This shows that our customers are increasingly trusting second-hand goods and seeing them as a real purchasing alternative.” points out from the company Miguel Giribet, CEO of the same in Spain and Portugal.
The company, which specializes in the purchase and sale of used products, has given one second Life to more than 2 million products in 2023. The company estimates that it has also generated one Savings of 40 million euros in the pockets of its customerswhich is entirely in line with its goal of “changing consumer habits to create a more sustainable world economically, socially and environmentally” and “making a real impact in the communities where it is present”, in this case in form of savings and reuse of products.
In this context, the company has its profitability increased significantly compared to 2022, thanks to the increase in sales across all sales channels and business areas and, above all, thanks to a strategy to deeply optimize its processes. “In addition to the increase in average purchases, this growth is due to the improvement of key processes such as: B. selecting quality products when purchasing products and increasing the return and loyalty of its customers.” indicates Giribet.
Among second-hand star products in Cash Converters' store network and website, mobile phones account for 27% of total sales, followed by jewelry (16%), a large portion of which comes from its own recycled gold collections. Computer products (12%) are also among the most sought-after products, with laptops standing out in this category, accounting for almost 50% of computer sales in 2023
“Electronics items continue to be the most sought-after items in the second-hand market by customers and we are pleased to see more and more people turning to second-hand jewelry items, especially our own jewelry.” assures the CEO.
cash converter, opened three branches in 2023: grenade, Cartagena And Madrid. The last two in malls. The new store design, which presents a very differentiated concept compared to the previous stores both in “lool&feel” as well as in dimension and experience, is part of the company's repositioning and efficiency strategy, aimed at achieving an increasingly conscious consumption habit as well as a customer with greater purchasing capacity. With these new openings, Cash Converters has 77 points of sale in Spain and Portugal and plans to open more by 2024, reinforcing its leading and authoritative positioning in the circular economy.
“The role of Cash Converters branches is twofold and fundamental. Firstly, to drive a change in the consumption habits of customers, for whom the company continuously works to improve their experience through more personalized attention, more careful product selection and a more pleasant environment. Second, stores must stimulate the local economy in the communities in which they are present by being a space where people can monetize the products they do not use, save money by purchasing high-quality and safe products, or find solutions . Accessible Alternatives and Responsible Financing,” assures Giribet.
The Cash Converters group has its own brand and the DINEO brand alternative and responsible financing, has supported more than 50,000 users. The company financially supports people for whom access to conventional bank financing is very difficult or not possible at all, through transparent, immediate, responsible and secure financing.
Cash Converters will save more than 34,000 tons of CO2 emissions in 2023
The company that has the goal Changing consumer habits to create a more sustainable world economically, socially and environmentallyHere too he has achieved major milestones.
Selling used products meant a saving of 34,000 tons of CO2 emissions, a figure that has increased compared to 2022 and 2021, when 30,000 and 24,000 tons were saved respectively. The CO2 saved on the planet was the equivalent of take more than 2,900,000 cars off the road for a day. Or what is the same thing, leaving a city like Madrid without traffic for 53 days?