Moonpig reveals jump in sales but says consumers are buying fewer cards and sending cheaper gifts
The online greetings cards and gifts giant saw its profits decline as it notched up higher costs.
It reported a 5.2 per cent increase in its group revenue in the year to the end of April, compared to the previous year, to £320.1m from £304.3m.
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Hide AdIt came as the average order value, across its UK website and Netherland's brand Greetz, jumped from £7.70 to £8.20, which reflects an increase in card prices and fewer promotional discounts, the company said.
The vast majority of sales come from existing rather than new customers, the platform said.
But average selling prices for gifts, like flowers, chocolate, wine and champagne, declined during the year as consumers opted to send cheaper gifts to loved ones amid cost pressures.