Bravada International Ltd. announced that it is seeing healthy signs that the US consumer is beginning to increase their spending on discretionary items as sales at its very popular OnlyLeggings.com leg fashion website have seen significant week over week sales growth and a much higher conversion rate as compared to that of the summer months.
The current week is tracking over 20% higher than last week with similar metrics from the week previous to the extent that a record setting Black Friday weekend is expected for the women's leggings website.
"The women's apparel idiom has been in what has been described as an industry recession over the last few months with consumers pulling back aggressively on apparel purchases."
"The women's apparel idiom has been in what has been described as an industry recession over the last few months with consumers pulling back aggressively on apparel purchases," replied Danny Alex, CEO of Bravada International.
Inevitably, the pent up demand that develops can eventually ignite consumer spending which could be what we are starting to see. During the summer months, we saw much lower conversion rates on all of our online businesses and unwillingness from shoppers to make purchases.
"We are now seeing much higher conversion rates as well as higher revenue per order on a week over week basis. It is impossible to know the long-term trend with regards to consumer spending on apparel; however, this resurgence in consumer spending will only magnify our free cash flow given our increased internal cost efficiencies and will auger well for the national launch of our women's fashion website."
