Cycliq Group Limited (ASX: CYQ) celebrates the triumph of its 2023 Black Friday campaigns, highlighting the enduring appeal of its flagship product, the Cycliq Fly12 Sport. November 2023 witnessed a notable surge in individual orders, up by 29%, culminating in an unaudited Gross Revenue of AU$1.2 million. Demonstrating an enhanced consumer sentiment, Cycliq's TrustPilot rating soared to 4.1 out of 5 stars, a significant leap from the 2.4 stars recorded in November 2022.
The company observed a distinctive shift in cycling consumer behaviour, characterized by a 28.3% decline in the average order value (AOV), now at AU$449. This trend reflects consumers' emphasis on purchasing core offerings like safety, action, and sport cameras while reducing expenditure on supplementary accessories such as mounting systems and product protection packs. The reduced AOV was influenced by substantial discounts of 60% to 80% on accessories offered by retailers like Chain Reaction, Wiggle, Sigma Sports, and others. Cycliq Group Ltd's successful Black Friday campaigns underscore sustained demand for its core cycling products and evolving consumer spending patterns.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
