Inditex regains its pace online: grows by 16% and adds a share point

Inditex restores the rhythm of the Internet. The Galician giant, the world's first in mass fashion distribution, ended the year accelerating through the digital channel and gaining share in the overall business compared to the previous year. Inditex thus reflects the trend in 2022, when online sales lost their share of the total.

In 2023, Inditex recorded a turnover of €9.1 billion only through the online channel, an increase of 16% on the previous year. Online sales represent 25% of the group's total businessregaining ground lost to the company in the previous year, when online sales represented 24% of total business volume, one percentage point less than in 2021).

The volume and rate of online sales has been the least public data for Inditex for years, after it entered e-commerce in 2010 with the launch of the Zara online store. In March 2018, the secrecy was broken and the group announced for the first time that in the 2017 financial year it invoiced €2,534 million online, almost 10% of its total business. CWith this progress, Inditex last year left behind the target of the channel accounting for 30% of business in 2024..

Inditex issued invoices worth €9.1 billion online, representing 25% of the group's total business.

In 2019, Inditex's online sales accounted for 14% of its turnover, and in 2020, a year that saw store closures and quarantines, online sales rose to 34%. In 2021, Business through the Inditex network increased by 14% compared to 2020, despite an unprecedented like-for-like base, amounting to EUR 7.5 billion.Which represents 25.5% of the total business.

The company maintains its commitment to this distribution channel for the coming years Offers that by 2024 it will enhance the online shopping experience (through weekly live broadcasts) in the US and UK. In addition, he confirmed that he will continue to develop Shuffle (a platform similar to a social network) for chains such as Pull&Bear.

The Galician giant ended the 2023 financial year (ending January 31) with a 30.3% increase in its net results, which amounted to €5,381 million. Inditex recorded growth of 10.4%, amounting to €35,947 million, “with a very satisfactory development in store and online, and positive in all geographies and in all formats”. Sales at constant exchange rates increased by 14.1%.