April '22

April '22 was again a strong month, though not as strong as March. We ended with about 25.000 Euros in revenue / 500 orders / 1.000 products sold. This means more than > 15 orders per day and also our returning customer rate has been strong and stable at about 30%.

The decrease in sales vs. March is due to the lack of new big product launches in April. Also we've seen increasing stock-outs on the jeans. Jeans had an unexpected but welcome uplift in March, but by April at least 50% of the sizes were sold out on most jeans styles.

A highlight is the more personal connection to customers we've been able to build-up. Since we're doing the shipping again by ourselves, we're writing a personal message on every order. This has lead to noticeably friendlier contact with our customers, for example in the customer service. Also it's been really great to welcome people in our showroom. We get invaluable direct feedback from customers, such as requests for new products. And we can see with our own eyes how the products fit on different customers.

In terms of operational efficiency we've made a large step forward in our fulfilment efficiency. With two people we're now able to pack 30 - 40 orders per hour. In March this was more around 20 orders per hour, so large steps there.

We've noticed an increase in the volume of returns, especially on marketplace orders. With a ~25% return rate we're still well below industry standards. Some product groups standout in a negative way, such as jeans which continue to be difficult to sell online (due to unclarity around sizing and fit). Some other products standout in a very positive way: for example when we nail a product, such as the boxer shorts, we barely get any returns.

Honest Basics is looking for a new large investor to help us take our brand to the next level. Are you interested in receiving more information? Send us an e-mail to info@honest-basics.com to start the conversation.

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