Dutch online supermarket Crisp managed to raise its turnover by 30 % last year. The results allowed it to be confident for the future – forecasting profitability for its Dutch operations by 2024 and for its Belgian operations by 2025 – and to collect fresh capital to fund further growth.
Crisp can count on its very loyal customer base, that keeps on ordering more despite the high inflation. “Customers are not choosing the cheaper products, remain very loyal and fill their online basket for an average of 85 euros”, CEO Tom Peeters told Dutch newspaper FD. 90 % of orders are repeat purchases. Sales grew 30 % last year, but the absolute amount was not revealed.
The combination of higher sales and lower costs (through savings on packaging and a more efficient delivery) should put Crisp on the road to profitability. Peeters now says he expects the online fresh food market to become profitable in the Netherlands before the summer of 2024 and a year later in Belgium.
Crisp has also raised another 35 million euros in growth capital, mainly from existing investors. The retailer plans to use that money to expand its range and number of suppliers, for additional promotion and to cover start-up losses.