Society6 Delivers 125% Growth in Gross Transaction Value in January 2021, Marking a Strong Start to the New Year

Rhea-AI Summary

Society6, an artist-driven online marketplace, reported a Gross Transaction Value (GTV) of $13.1 million for January 2021, reflecting a 125% increase year-over-year. This growth highlights a successful Q4 2020 strategy focused on customer acquisition. Key product categories included Wall Art, Home Decor, and Bedding & Bath, with strong sales from BIPOC artists. Society6 aims to expand its premium offerings, specifically introducing new 100% cotton sheets in February. The company supports a community of 400,000 artists worldwide.

Positive

• GTV increased by 125% year-over-year to $13.1 million in January 2021.
• Successful customer acquisition strategy from Q4 2020 led to strong growth.
• Top performing categories: Wall Art, Home Decor, and Bedding & Bath.
• Introduction of new premium products, including 100% cotton sheets in February 2021.
• Support for BIPOC artists contributes to positive brand perception.

Negative

• None.

Artist-Driven Home Decor & Design Marketplace Sees Strong Growth in Repeat Customers in January 2021

SANTA MONICA, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Society6, the artist-driven online marketplace featuring made-to-order products in home décor, wall art, apparel and accessories, today announced Gross Transaction Value¹ (GTV) of $13.1 million for January 2021, an increase of 125% year-over-year. This strong start to 2021 continues the momentum for Society6, building on the brand’s record 2020 holiday season with strong new customer growth as well as strong repeat customer growth on the back of reinvestments in customer acquisition in Q4 2020.

Top performing product categories included Wall Art, Home Decor and Bedding & Bath, with art prints and framed art prints, throw pillows, shower curtains, black out curtains and iPhone cases ranking as some of the top products for the month. Additionally, Society6 saw strong sales for designs created by BIPOC artists. The brand plans to expand its premium product offerings in 2021, with a focus on new products in the popular Home Decor and Bedding & Bath categories, including the launch of 100% cotton sheets in February.

“2020 was a non-traditional year in many ways for Society6 but our team successfully ramped up operations to meet that growing demand and provided high quality experiences to our customers, leading to an exceptional year. This effort is key as we grow the business and we are thrilled with the strong repeat customer growth we’ve seen this past month. We expect that the foundation we layed in 2020 will continue to drive repeat purchases from customers we acquired during the past year,” said Julie Matrat, General Manager of Society6. “Society6 is also a valuable platform for artists and we are honored to be able to support our community of 400,000 artists from across the globe. We remain committed to supporting this thriving artist community throughout 2021 and look forward to launching new products, collaborations and artist tools in the coming year.”

Society6 prides itself on offering premium made-to-order products featuring beautiful, original designs at affordable prices. With more than 7 million unique designs available across more than 75 premium products in home décor, furniture, wall art, tabletop, apparel and tech, there is truly something for everyone at Society6. For more information on Society6, visit www.society6.com.

¹ Gross Transaction Value: Gross Transaction Value (GTV) is defined as the total dollar value of Society6 transactions. Gross Transaction Value is the total amount paid by the customer for a Society6 product, which consists of the following elements: the product price, inclusive of the commission payable to the artist, shipping charges, and sales taxes, less any promotional discounts. Gross Transaction Value does not reflect any subsequent cancellations, refunds or credits and does not represent revenue earned by Leaf Group.

About Society6:
Society6 is an artist-driven online marketplace selling art, home decor, accessories and apparel, where design comes first and there's a style for every personality. Society6 offers a platform to shop unique designs from hundreds of thousands of independent artists from around the world, and every purchase made pays an artist. Each item is made-to-order and artist designs are available on more than 75 premium products, including art prints, wall tapestries, throw pillows, yoga mats, duvet covers, and more. To learn more, please visit www.society6.com. Society6 is a wholly owned subsidiary of Leaf Group Ltd. (NYSE:LEAF).

About Leaf Group:
Leaf Group Ltd. (NYSE: LEAF) is a diversified consumer internet company that builds enduring, creator-driven brands that reach passionate audiences in large and growing lifestyle categories, including fitness and wellness (Well+Good, Livestrong.com and MyPlate App), and home, art and design (Saatchi Art, Society6 and Hunker). For more information about Leaf Group, visit www.leafgroup.com.

Cautionary Information Regarding Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements set forth in this press release include, among other things, statements regarding the Company’s future financial performance and the Company’s business and operational strategy. In addition, statements containing words such as “may,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “project,” “projections,” “business outlook,” “estimate,” “targets,” “guidance,” “guideposts,” or similar expressions constitute forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Potential risks and uncertainties that could affect the Company’s operating and financial results are described in Leaf Group’s annual report on Form 10-K for the fiscal year ending December 31, 2019 filed with the Securities and Exchange Commission (http://www.sec.gov) on March 16, 2020, as such risks and uncertainties may be updated from time to time in Leaf Group’s quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. Any forward-looking statement made by the Company in this press release is based only on information currently available and the Company undertakes no obligation to revise or update any forward-looking information, except as required by law, and may not provide this type of information in the future.

Media Contact:
Sharna Daduk
VP, Communications
Sharna.daduk@leafgroup.com 

FAQ

What was Society6's Gross Transaction Value for January 2021?

The Gross Transaction Value (GTV) for Society6 in January 2021 was $13.1 million.

How much did Society6's GTV increase year-over-year in January 2021?

Society6's GTV increased by 125% year-over-year in January 2021.

What are the top product categories for Society6 in January 2021?

The top product categories for Society6 in January 2021 included Wall Art, Home Decor, and Bedding & Bath.

What premium product is Society6 launching in February 2021?

Society6 is launching new 100% cotton sheets in February 2021.

How does Society6 support its artist community?

Society6 supports a community of 400,000 artists by providing a platform for their work and ensuring they receive compensation for sales.