Online sales at H&M Group have risen 40% in the six months to mid-2021. H&M experienced a 12% total rise in sales across the group. Moreover, sales grew by 75% in the second quarter of 2021, as shopper confidence continues to return.
Due to more vaccinations customers can once again visit the physical stores. With the combination of much-appreciated collections, rapid adaptation and further improvements, H&M’s recovery is strong. Despite continued restrictions, sales increased significantly compared with the previous year. The third quarter started well and the company is almost back at the level they were at before COVID-19.
Long-term digital investments
Helena Helmersson, CEO, comments: “Both existing and new customers are showing every day that they appreciate our customer offering with the best combination of fashion, price, quality and sustainability. Our long-term digital investments and increasingly integrated sales channels, along with more efficient ways of working and our customer focus, have been important during the pandemic. By being flexible and adapting quickly, all parts of the company have contributed to the recovery. At the same time, we can never sit back and relax. We are driven by a passion to continually improve the customer offering and the customer experience.”
Increasing demand for sustainable fashion
Their transformation continues at full speed in order to meet customers’ increased expectations. In addition to help strengthen their competitiveness further. Helena Helmersson especially highlights H&M’s initiatives within tech, AI and the supply chain. She comments that they have made great progress while still seeing further opportunities within areas such as greater precision and local relevance.
In the wake of COVID-19 the group is seeing increasing demand globally for fashion. It provides value for money and is sustainable. The H&M brands are also offering an increasing number of services for a more sustainable lifestyle.
Helena Helmersson concludes: “In combination with our work to become circular and climate positive, we are also increasing the share of sustainable and renewable materials. We are developing the existing business and are also creating new complementary revenue streams. Together with profitable online growth and continued store optimisation this will contribute to long-term, profitable and sustainable growth for the H&M Group.”