Ukrainian tech retailer Foxtrot reported a 35% increase in turnover in the first quarter of 2024 compared to the same period last year.
“The market of household appliances and electronics has recovered almost to pre-war levels. We see this in numbers and as the number of our customers grows (almost 220 thousand in three months), their needs and expectations from the company change. Therefore, our goal is to be close to them and offer the most profitable and convenient solutions while remaining a socially responsible business and employer, supporting our defenders and civilians,” Foxtrot CEO Oleksiy Zozulya was quoted as saying in the company’s release.
According to the company’s press service, this spring, the share of online sales increased by 20%, and Foxtrot.ua traffic grew by 21%.
In general, the largest growth is demonstrated by the categories of large (+51%), small (+44%) household appliances and TVs (+34%). According to the company’s analysts, this indicates a moderate increase in consumer sentiment, when most Ukrainians have adapted to wartime conditions and buy not only household essentials, but also coffee machines, washing machines, and TVs.
In the first quarter of 2024, Foxtrot opened four new stores in Chernihiv, Stryi (Stryi City shopping center), Odesa (Ostrov shopping center), Kryvyi Rih (Victory Plaza shopping center), and reopened a store in Dnipro in the Appolo shopping center after a missile attack.
In the first quarter of 2024, Foxtrot paid UAH 207 million in taxes and fees to the state budget. The amount of assistance to the Ukrainian Defense Forces increased by UAH 8.5 million. In addition to the current monthly deliveries of equipment to the defenders, in March the company initiated an additional purchase of 60 FPV drones for a total of UAH 1 million for three combat units of the Armed Forces of Ukraine. Currently, Foxtrot’s total contribution to the country’s defense capability is UAH 35 million.
“Foxtrot is one of Ukraine’s largest omnichannel retail chains in terms of the number of stores and sales of electronics and home appliances.
By the end of May, Foxtrot was represented by 124 stores in 67 cities of Ukraine, including the only major electronics retailer in Kherson, Kramatorsk, Sloviansk and Pokrovsk, which are located near the frontline. Currently, 100% of the stores are energy-independent, which makes it possible to operate uninterruptedly during power outages.
The Foxtrot brand is developed by the Foxtrot group of companies. The co-founders are Valery Makovetsky and Gennady Vykhodtsev.
