In the spring of 2011 the online department store Miinto entered the Swedish online fashion market and quickly reported a turnover of 6M SEK in the first quarter of 2012 with over 200.000 unique visitors a month. During the financial year they continued to show impressive growth figures. In 2012, their revenues grew by an astonishing 188% compared to 2011 which they say is the result of their free shipping policies and a wide range of well-planned marketing efforts.
“We have great expectations with regard to our free shipping policy and we are confident that it will lead to increased revenue for our affiliated stores” says Miinto to eHandel.se
Besides their free shipping policies they seem to differentiate themselves in this highly competitive market by knowing exactly what their customers want.
“One thing is that consumers are turning more and more towards shopping online, but you have to have the right product range and potential for it to lead to conversion”, says Lin Eriksson, Marketing Miinto.se to eHandel.se
Miinto’s growth doesn’t look like a short term boost. In January, where e-commerce firms often experience decreasing sales, Miinto kept seeing positive results. In the end its all about getting the customer to buy something, a process which Miinto seems to manage in a successful way!