ShopTo posts £22m turnover

Retailer ShopTo trebled its market share and posted a turnover of 22 million in its last financial year.

The retailer has also told MCV that the site doubled its customer base in 2009 and expects that number to increase by 200,000 by the end of the year.

We have trebled our market share, whilst increasing turnover by more than 60 per cent,” said ShopTo CEO
Igor Cipolletta.

Undoubtedly these figures underpin our success in a market that has seen stagnation and sales decline over the last 12 months. We are fast becoming a top three or four retailer for day one sales and pre-orders in the UK.”

Bolstered by such fiscal triumph, ShopTo is expanding beyond its single, long-running website – most notably with the impending rollout of a white label service that will see the company handle online retail operations for other firms.

We place great importance on the effectiveness of our service, which measures up very favourably against our competition,” said Cipolletta. Because of this, we feel we are well placed to offer a white label service.

We already have two companies on test trial, and we will increase their reputation to the high standard of ShopTo’s in no time.”

Cipolletta also reports that the company is due to launch an iPhone app and a digital games service within the next few months.