Fruugo have appointed a new Chairman after seeing 4 years in a row of triple digit growth. This isn’t a marketplace we hear about often but, from the sellers who use the marketplace, we hear good reports of strong sales.
Confirming triple digit growth over the past 4 years confirms that the Fruggo marketplace should be of interest to merchants. Fruugo isn’t going to replace your Amazon or eBay business, but it could easily add an incremental 5% to 10% revenue and so is a strong contender for any merchant looking to diversify their marketplace business.
Fruugo’s unique one-checkout, fully localised marketplace means shoppers can buy from multiple retailers in multiple countries in one visit and in one transaction – the Fruugo marketplace makes all calculations and translations in real time. Fruugo say that they are the only marketplace in the world which makes global shopping feel truly local.
For the merchant, the best thing about the Fruugo marketplace is the ability to list in local UK currency and English and Fruugo take care of all translation and currency conversions to present the offer to buyers in whichever country they live in.
To support the next stage of their growth, Fruugo have announced that Mike Hancox, previously CEO of Ideal Shopping and former CEO of Shop Direct and former CEO of Otto UK (part of the world’s largest home shopping group), has been appointed as Chairman of Fruugo.com Limited. The marketplace intends to launch their services in yet more countries around the globe and look at fund raising options to further power their growth in the years ahead.
“I am joining Fruugo at what is an incredibly exciting time for the business. I look forward to leading the already impressive board of Fruugo.com, which is one of the UK’s most dynamic tech growth stories, as we expand our one-stop global marketplace to reach more and more shoppers and retailers all around the world. Cross-border online shopping is seeing extraordinary growth worldwide and Fruugo, with its unique and proprietary global platform, is in a fantastic position to build on its already impressive growth. We already compete with the likes of Amazon, Alibaba, Ebay and Rakuten as we bring more choice to international shoppers”.
– Mike Hancox, Chairman, Fruugo