NEW YORK, NY / ACCESSWIRE / September 2, 2021 / SFLMaven Corp. (OTC PINK:SFLM), ("SFLMaven" or the "Company"), a leading provider of high-end luxury goods, is excited to announce strong sales activity during the month of August 2021, which saw over $828k in gross sales, a 38% increase over August 2020 gross sales. The Company sold 935 items in August 2021, up over 22% year-over-year, as the average sales price per item increased 13% to $885.64 during the month.
"This is a seasonal business, and we watch year-over-year data closely to see how we are tracking," commented Joseph Ladin, CEO of SFLMaven. "We saw big gains in basically every key metric in August, which is very encouraging, especially since we had only four Thursday Auctions during the month. Overall, we are tracking very well for this stage of the year in both sales and inventory levels, and we look ahead toward our strongest stretch of the year in the Fall and into the Holidays."
Management notes that several months each year have five Thursdays, which skews monthly performance data comparisons because the Company's most important sales event each week is its Famous Thursday Night Auction. However, August 2021 was "apples to apples" with August 2020, with four Thursdays each, suggesting very strong year-over-year growth due to both operational and contextual factors as the Company demonstrated gains in marketing efficiency against a backdrop of strengthening high-end consumer trends.
Due to the strong economic recovery and projections of very strong luxury goods demand growth during the 2021 holiday season, the Company continues to grow its inventory and develop additional sales channels to augment its eBay store. Management believes this combination could contribute to outsized growth potential in the back half of the year. Additional details on this theme will be discussed soon.
Ladin continued, "August is typically a slow month. It's a time to regroup and develop new strategies to maximize the opportunity ahead as people start to look for holiday gift ideas. It's also a time to increase our inventory so we have the capacity to service the demand jump associated with the fall. That's another area where we are showing a powerful improvement over last year - our current inventory level vastly exceeds where it was heading into September 2020. In terms of both demand expectations and our ability to meet that demand, we are very optimistic as we look forward to the months ahead."
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About SFLMaven
SFLMaven Corp. (OTC PINK:SFLM), is a premium provider of high-end luxury goods to discerning clientele globally. SFLMaven has driven over $130 million in sales and 98,000 positive reviews since inception, famous for its Thursday Night Auction events on its top-rated eBay store.
For more information, please visit the Company's website at www.sflmaven.com.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.
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SOURCE: SFLMaven Corp.