Yunji Reported Repeat Purchase Rate of 74.4% In The Twelve Months Ended March 31, 2024
Portfolio Pulse from Benzinga Newsdesk
Yunji reported a repeat purchase rate of 74.4% for the twelve months ending March 31, 2024. Total revenues for Q1 2024 were RMB127.9 million (US$17.7 million), down from RMB178.7 million in Q1 2023, due to soft consumer confidence and strategic product and supplier optimization.
June 11, 2024 | 10:06 am
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Yunji's Q1 2024 revenues decreased to RMB127.9 million (US$17.7 million) from RMB178.7 million in Q1 2023, primarily due to soft consumer confidence and strategic product and supplier optimization. However, the company reported a strong repeat purchase rate of 74.4% for the twelve months ending March 31, 2024.
The decline in revenues is a negative indicator for short-term stock performance, despite the high repeat purchase rate. The market is likely to react to the revenue drop, reflecting concerns over consumer confidence and the impact of strategic changes.
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