30 Oct 2014

TradeMe looks to wider online sales

7:52 am on 30 October 2014

TradeMe's year-on-year revenue for the sale of general goods has dropped one percent.

Shareholders attending the company's annual meeting have been told that section of the marketplace was unlikely to return to double digit growth.

But chief executive Jon Macdonald said overall, TradeMe would continue to benefit from increased demand for wider online retailing.

"When it comes to getting that business back on a good growth curve we think there's a little bit of growth in used goods but it is a fundamentally mature business, it's 15 years old now."

"Where we do see good sustained growth for many years is in participating more in online retail.

"We are very confident that online retail will continue to grow and that New Zealander consumer will continue to spend more online."

He said that the challenge was to make sure consumers saw TradeMe as an online retailer that sold both new and used goods.

The growth in online retail would be able to accommodate TradeMe as-well-as other online retailers, Mr Macdonald said.

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