Coolblue cashes in on e-commerce boom

Coolblue cashes in on e-commerce boom
CoolblueFietst/CoolblueVelo delivers packages by bike from its 5 stores in Belgium, in Ghent, Antwerp, Brussels, Zaventem and Hasselt. 80% off all small packages in these cities are already delivered by electric bakfiets. ©Coolblue

Coolblue’s €2.3 billion in sales last year is fueling the company's expansion in Belgium, the Netherlands, and Germany.

On Thursday morning, the Dutch electronics e-commerce firm released its financial results for 2021, crediting its online-based and contactless delivery model as perfectly suited to cater to the needs of shoppers in times of Covid. As a result, the company expects sales growth to continue in 2022.

“2022 is going to be the best Coolblue year ever,” said Pieter Zwart, founder of Coolblue, in a statement.

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In Belgium, the company recorded sales of €580 million in 2021, a modest increase from sales of €571 million in 2020, Belga News Agency reported.

This year, Coolblue plans to open a warehouse in Nivelles, south of Brussels, the company’s third in the country alongside others in Ghent and Antwerp. The company employs 750 people in Belgium, but it is looking to add up to 100 new employees with the new warehouse and a new store planned.

The pandemic kept customers away from traditional brick and mortar stores but did little to suppress demand for entertainment systems and new appliances. On the contrary, the e-commerce sector saw big growth, according to a report released in September by Ecommerce Europe.

“The past year has exposed the importance of digital transformation. E-commerce has proven to be exceptionally well placed to facilitate the digitalisation of retail and create a seamless shopping experience for consumers,” Luca Cassetti, Secretary-General of Ecommerce Europe, said in a statement.

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