UK and Germany-based electronics retailer AO.com has reported that it has increased its market share and seen a huge rise in demand since the start of the lockdown in the UK. In the year leading up to March 31st, the retailer said that it successfully met its four key strategic ambitions, including returning to profitability and being cash generative. AO.com’s chief executive John Roberts has said “We are more certain than ever of the potential of the business and the platform it provides for growth.”
J&P Comments
It is interesting that AO has reported this growth when the electronics sector in general has been in decline since the start of the lockdown. However, last year the business shifted its focus to expanding in Germany, and as this has proven to be a success, this definitely may have also contributed to AO’s recent growth.
