Please, find below and attached (Nederlands), the H2 2020 investor update for Icecat.
We are planning an online investor meeting regarding the 2020 annual results on April 29, 2021, at 4 p.m. The annual report will be published on the same day. Please, register below:
Invite: Icecat Investors eMeeting for DR holders
Without prejudice to the annual figures – still in audit – find here an overview of our highlights for the second half (H2) of 2020 of Icecat.
Due to the COVID-19 crisis, we saw lower-than-expected growth of around 8% over the first six months, and a similar growth trend for the remainder of the year. At the same time, our order book expanded by 20% year-on-year in the fourth quarter. With that momentum, we have started 2021, in which we see the trend of the fourth quarter continuing so far.
The corona year had two faces for Icecat. On the one hand, the e-commerce market accelerated and therefore the need for good product content. But, on the other hand, non-food physical retail was on its back, and businesses postponed several projects and investment decisions. We expect that investment caution to fade further through 2021 due to the COVID-19 vaccination. We expect retail to recover, and e-commerce to evolve further.
We saw the use of Icecat data grow by no less than 75% over the whole of 2020. As a result, the number of downloads of product data-sheets expanded to about 10 billion. And, the number of brands that list products themselves in Icecat has even grown by a factor of 10.
Based on a competitive comparison, Icecat is doing very well in terms of traffic and is even increasingly distancing itself from direct competitors such as CNET Content, GfK Etilize, Salsify and Webcollage.
We see that this expansion of our online footprint translates into an increase in spontaneous sign-ups from brands, retailers and online platforms that want to collaborate.
A lot is changing in the market regarding the competitive landscape. GfK Etilize has become an Open Icecat integration partner in some international projects. CNET Content has been sold to 1WorldSync, in which Battery Ventures invests. And Nielsen Brandbank has been sold to Advent as part of Global Connect. We expect more such M&A activities during 2021 and see that as beneficial for Icecat. There is clearly more interest in the product content and syndication market.
As of 2021, we have made a small adjustment to our business model whereby we strictly limit database access to the main categories to which a customer has subscribed. This leads to a higher number of upsell requests. It also reflects the situation that Icecat has become a serious provider not only in IT, Telecom and Consumer Electronics, but also in Toys, Games, Office, FMCG, Do-It-Yourself, Fashion, etc. etc.
We have published the roadmap for the further development of our PIM (product information management) services.
In 2020, we rolled out an online brand monitor. On the one hand, we use it for business intelligence services to customers, but on the other hand also for awarding Icecat Awards to brands and for generating traffic.
In addition to the brand dashboard, we continue to invest in the Icecat portal, Icecat Vendor Central, interfaces to third parties (APIs), reviews syndication, and the PIM platforms of Syndy, Cedemo, and Iceshop, striving for technical and operational synergy. We call this the One PIM strategy.
We produced a short video review of 2020. Further, you can find daily updates about the Icecat business at iceclog.com. There is also an investors group here to which you can subscribe.
Disclaimer: The information contained herein is not, and shall not constitute an offer to sell, a solicitation of an offer to buy or an offer to purchase any securities, nor should it be deemed to be an offer, or a solicitation of an offer, to purchase or sell any investment product or service. In case that you decide to invest in Icecat depository receipts, please seek professional, financial advice, and read the prospectus and other financial reports and communications of Icecat N.V. before making an investment decision, especially the sections regarding risks. Investing is now without risks. You can lose your entire investment.
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