CNOVA - First Quarter 2021 Activity
and digital marketing
expansion driving growth and
High +34% growth of the marketplace reaching 46% of GMV
(+7pts) Acceleration of
marketplace revenues: +43% in Q1
at €197m on a LTM basis Strong
expansion of digital
marketing revenues (+43%)
AMSTERDAM – May 6, 2021, 07:45 CET Cnova N.V.
(Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced
its first quarter 2021 activity.
quarter 2021 Highlights
During the 1st quarter 2021, Cnova has
strengthened its economic model.
The marketplace, now
representing 46% of total GMV (+7pts),
was at the heart of Cnova profitable growth, with
+34% in the 1st quarter
2021 vs. last year. Marketplace revenues reached €197m
over the LTM, growing +38% vs. the previous LTM period, and
accelerating in the first quarter with a +43% increase, driven by
the growth of digital marketing revenues from sellers.
Digital marketing revenues
have increased by +43% driven by the development
of our in-house marketing digital platform Cdiscount
Octopia, Cnova turnkey
marketplace solution for EMEA retailers and e-merchants,
grew by +86% and is now connected to 518 websites
in Europe. Octopia signed a major EMEA client, a local retail
leader with over €1bn revenues, and launched its first marketplace
for Géant in April 2021.
GMV (Gross Merchandise Volume) increased by +12%
to reach €1,006m. As of March 31, 2021, Cdiscount website served
more than 10.5m active customers over the last twelve months (LTM)
at the end of the 1st quarter (+15%). Growth has been dynamic in
higher margin categories towards Home, DIY & Leisure (+29% in
the 1st quarter).
Emmanuel Grenier, Cnova CEO, commented:
“The 1st quarter of 2021 confirmed the good
dynamic recorded in 2020 and its relevant positioning, with strong
GMV growth and improved profitability in a fast-evolving
environment in Europe marked by strong and sustainable underlying
trends: more digitalized sales and more home delivery.The solid
performance of our B2C activity is driven by a strong marketplace
development and accelerated growth of Home, DIY and Leisure
categories. We have offered enhanced customer experience through a
best-in-class delivery service and a politic of “yes to the
customer”, driving to a record high NPS(1).Our B2B activity is
developing very well thanks to the dynamic of digital marketing and
Octopia. More and more sellers and suppliers are leveraging on our
digital marketing platform to accelerate their sales. The ramp up
of Octopia, our turnkey marketplace solution, is accelerating with
more than 500 websites connected throughout Europe and a first
major client launched with our full solution.”
Key operational metrics
Traffic (millions visits)
Key financial figures
Total GMV (€m)
GMV (€m) (4)
o/w Direct sales
Marketplace GMV share
Net Sales (€m)
o/wo Marketplace revenues
Organic GMV posted a strong
+13.0% increase in the 1st quarter 2021.
GMV growth was driven by:
the marketplace, with a +10.9 points contribution to growth in the
1st quarter 2021 vs. last year, boosted by a strategic evolution
initiated in the 2nd quarter 2020 towards Home, DIY & Leisure,
bringing more repurchase, loyalty and profitability thanks to
Octopia GMV almost doubled (+86.3%) thanks to our Products as a
Service offer and commercial acceleration in Europe, bringing +1.2
pt of growth to Cnova.
total GMV share
marketplace GMV share
was the driving force of GMV in the 1st quarter 2021, with a +34.3%
GMV growth vs. N-1.
It led to an increased marketplace GMV share,
reaching 45.6% in the 1st quarter 2021 (+7.2 pts). The Marketplace
benefited from the strong growth of Fulfilment by Cdiscount (+42.5%
vs. N-1) whose marketplace GMV share grew by +3.5 points.
Net sales amounted to 517.9 million euros, i.e.
a +5.0% increase vs 1st quarter 2020. The increase is mainly
explained by a +42.9% growth of Marketplace revenues and +44.7% of
revenue for Cdiscount Pro.
Regarding traffic, Cdiscount
ranks #2 in France on average over the quarter with 22m Unique
Monthly Visitors. It represents a total of almost 300 million
visits during the 1st quarter 2021 (+18.9%).
Marketplace of products growing
double-digit, driving up revenues and profitability
- The marketplace gained +7.2 points
of GMV share to reach 45.6% in the 1st quarter
2021, thanks to a strong
- In addition to volume growth,
revenue generation grew even faster:
+42.9% in the
1st quarter, reaching
over the last twelve months, growing +38% vs. last year and
accelerating in the first quarter with a +43% increase.
- Expansion of express
delivery eligible marketplace SKUs is a key driver of
growth, customer satisfaction and contributes to the development of
our loyalty program, Cdiscount à Volonté (CDAV). It is also
determinant to support the product mix re-orientation towards
recurring products categories.
- Fulfilment by
Cdiscount kept growing at a fast pace, with a +42.5% GMV
increase reaching €120.5m
Express Seller, launched in 2019
for sellers able to offer express delivery to CDAV customers,
extended its offering by +18.0% compared to the previous quarter,
to reach 1.4 million eligible SKUs.
Product mix evolution towards recurring
product categories building
strong loyalty as well as increased profitability
- Cnova initiated at the start of
last year a strategic product mix evolution towards Home, DIY &
Leisure. These categories bring higher recurring purchase rates as
well as higher margins. Consequently, the product mix evolution
aims at generating more loyalty, repurchases and profitability.
These categories experienced a strong
+28.8% growth in
the 1st quarter.
B2C services showed
solid performance despite Covid-19 negative impact on
- Cdiscount Energie
(home energy) GMV grew by +69.9% in the 1st quarter 2021 vs. N-1,
supported by a strong subscriber growth of +78.9% compared to last
- Cdiscount Mobile
(cell phone plans) activity performed well during the 1st quarter
2021 with +33.1% GMV vs. N-1.
Enhanced customer experience and record
- Cnova achieved a solid +2.5
points NPS improvement this quarter compared to the same
period last year, through intensified efforts to improve customer
experience before, during and after the sale.
- Cnova reduced
delivery time by 0.6 day compared to last
year, thanks to the increase of
the express delivery share. This was
supported by the development of marketplace express delivery
options through Fulfilment by Cdiscount and Cdiscount Express
- Cnova also carried on its “say yes
to the customer” policy, with now 80% positive and
immediate answers to Cdiscount à Volonté customers claims and
proactive preventive actions for every abnormal event happening
during the customer journey. The goal is to reach 100% by the end
of the year.
Dynamic digital marketing powered by
Cdiscount Ads Retail Solution
- Digital marketing
revenues increased by
+42.9% in the
1st quarter compared to last year, reinforcing Cnova’s most
- It was supported by Cnova’s
proprietary solution launched in the 2nd quarter 2020,
Cdiscount Ads Retail Solution (CARS), a 100%
self-care advertising platform enabling both sellers and suppliers
to promote their products and brands. Cnova also kept adding
complementary digital marketing features to reinforce its offer,
such as the launch of Google Shopping campaign management for
suppliers and marketplace sellers.
- Creation of a new brand,
Cdiscount Advertising, encapsulating all in-house
digital marketing services, for brands and marketplace
Octopia, the turnkey marketplace
solution for EMEA retailers and
- Cnova’s turnkey marketplace
solution aims at offering 4 modular and ready-to-operate
marketplace services to international retailers and e-merchants:
- Products as a
Service to bring products to small/medium websites
- Merchants as a
Service to bring sellers to existing marketplaces
- Marketplace tech
solution to transform e-commerce websites into
marketplaces thanks to our technology
- Fulfilment as a
Service to bring multi-marketplace fulfilment solutions
including cross-border shipping and warehouse management
- Octopia is the only player on the
market to fully handle these 4 solutions, at a large scale, thus
offering a unique value proposition to address a huge EMEA
- Octopia GMV experienced a very
growth, bringing +1.2 pt of growth to Cnova.
- This international platform now
comprises 518 connected websites
enabling delivery in 27 countries.
C Chez Vous and C-Logistics
aiming to become leading transportation
& logistics service providers
- C Chez
Vous aims at becoming the French
leader in delivery of heavy and bulky products, reaching record
high NPS of 75 for its first months of activity.
- C-Logistics aims
at being a leading e-commerce third-party logistics player with a
first client signed in 1st quarter 2021.
to help Cnova’s clients
consume more sustainably
- C2C platform launched in December
2020 with 2.6m visits on March 31st, 2021.
- Launch of a self-repair service
(through partnership with Spareka), providing a breakdown
diagnostic tool and tutorials as well as more than 8 million spare
Cnova reduces its carbon footprint in
- 85% of total parcels shipped are
packed without any empty space.
- Option proposed to customers not to
wrap their parcels to save packaging resulting in nearly 200k
packages saved since its launch in October 2020.
About Cnova N.V.
Cnova N.V., the French ecommerce leader, serves
10.5 million active customers via its state-of-the-art website,
Cdiscount. Cnova N.V.’s product offering provides its clients with
a wide variety of very competitively priced goods, fast and
customer-convenient delivery options, practical and innovative
payment solutions as well as travel, entertainment and domestic
energy services. Cnova N.V. is part of Groupe Casino, a global
diversified retailer. Cnova N.V.'s news releases are available at
www.cnova.com. Information available on, or accessible through, the
sites referenced above is not part of this press release.
This press release contains regulated
information (gereglementeerde informatie) within the meaning of the
Dutch Financial Supervision Act (Wet op het financieel toezicht)
which must be made publicly available pursuant to Dutch and French
law. This press release is intended for information purposes
Cnova Investor Relations
contact:firstname.lastname@example.orgTel: +33 6
18 33 17 86
1 Net Promoter Score2 All figures are unaudited3 Total placed
orders before cancellation due to fraud detection and/or customer
non-payment4 GMV (gross merchandise volume) is defined as: product
sales (all taxes included) + other revenue + marketplace business
volumes (calculated based on approved and sent orders) + GMV
services5 According to the latest Médiamétrie studies
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