First year that we don't grow but...
This is the post where we summarize almost everything that has happened in our year and where we are going in 2023. Maybe you are waiting for it, maybe not. Maybe you're interested, maybe not. But here it is, loaded with data.
We always tell you that we are transparent, for the good and for the less good. Today we come to tell you how, in 2022 , it has been the only year that we have not grown .
The acquisition of online customers is becoming more and more difficult, many brands are suffering and we are all trying to touch the key to make a perfect mix between online, face-to-face, organic traffic and paid traffic. We keep testing, every day, like everyone else.
Do not stay with the global billing data, at least not only, let us explain.
This 2022 we had a clear objective, to lay the foundations of a stable, mature, conscious and sustainable brand. If you have seen any of our talks or have consumed the podcast, you will have heard us say: "There is nothing more sustainable than a company that pays suppliers, that pays employees, that complies with the treasury and that has a small margin left to continue growing." ”.
Well, with that premise in mind we have been working throughout 2022.
To put ourselves in context, we have to go back to 2021 when we collaborated in the "Vivir es urgencia" campaign that gave us a lot of billing but deprived us of many other things: it ate our box, it put all kinds of stress on the team and suppliers, It forced us not to be able to release more products that year due to lack of liquidity for several quarters. And it left us on “pause” for a long period of time that has directly impacted 2022. We almost died of “success”.
With this in mind we set to work in 2022 with several objectives:
- Be profitable per order.
- Manufacture all products with organic cotton and recycled polyester to minimize the impact on the environment.
- Manufacture as close as possible to our warehouse. 98% of our products are manufactured in Spain and Portugal. 2% is made in Vietnam.
- Improve product quality.
- Increase the average ticket.
- Improve conversion.
- Maintain our philosophy of not making sales, or discounts, or Black Fridays.
- Reduce payment investment in Meta (Facebook, Instagram…) and Google.
- Be more efficient in logistics.
- Leverage more organic traffic on the Open Minimalism podcast.
- B2B (clothing orders for companies) . Focus on orders that do not put the company at risk and that are an extra to online traffic.
In figures it translates into:
- Total billing: 372K (VAT included). 91% is through our website. It is billing, not profitability.
- Total number of orders: 4288
- Number of garments sold: 31,642
- Repetition rate: 45.20%
- Conversion: 1.22% in 2022 vs 1.04% in 2021
- Average cart: €71.08 in 2022 vs €60 in 2021
- Investment in marketing: 43K in 2022 vs 76K in 2021
- Blended CPA: €9.99
- Total podcast listeners: 150,000 views
- Clothes collected by Minimalism to donate and recycle: 250 kilos
2022 is the first year that we are not just looking for billing, we are looking to lay the foundations for what we want Minimalism to be in the next 10 years.
We want you to shop consciously. We want to be the reference brand in the basics of your day to day with high quality products, consciously manufactured.
We do not want to focus only on clothing, we also want to cover other essential products that position us in your mind when you need a product to wear, for your home, for sports and for your personal care.
Today we are not writing to tell you that we have doubled billing. Today we are writing to thank you for being part of this, for trusting Minimalism with your purchases, for listening to the podcast, for supporting us.
We continue to grow as a brand, we continue to be profitable, we have a goal and we are blown away by our work.
We continue with everything in 2023.