HelloFresh and Zalando are reaping the benefits of the corona pandemic

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While the corona pandemic has mainly negative consequences for most of us, it clearly does not apply to everyone. Due to the lockdown, more and more people bought their groceries and other products online. That paid off, especially for the major players in the industry.

Why would a person still go shopping and expose themselves to the corona virus if you can also just stay at home and order online? That is a line of reasoning that was followed by many if we are to believe the numbers of HelloFresh and Zalando.

Online groceries

German meal box deliverer HelloFresh has posted record results in the second quarter of the year. The company took full advantage of the corona crisis because many people chose to have meal boxes delivered instead of going to the store themselves. HelloFresh also manages to retain its customers better and notices that they order more.

The company, which recently increased its expectations for the whole of 2020, closed the measurement period with a turnover of 972.1 million euros. Compared to a year earlier, this was a growth of 123%. A total of 18.1 million orders were placed with HelloFresh, an increase of 103%. The customer base grew by 74% over the period to 4.2 million active customers. The adjusted operating result also reached a record level of 153.6 million euros and HelloFresh managed to significantly improve profit margins.

Shopping for clothes

The – also German – online fashion retailer Zalando also earned significantly more in the second quarter than in the same period last year. Net profit increased from EUR 45.5 million to EUR 122.6 million. The company announced this on Tuesday. The operating profit (EBIT) more than doubled to 211.9 million euros.

Due to the corona pandemic, Zalando benefited from more orders from customers via the internet. Turnover increased by 27.4% to around 2 billion euros. Zalando confirms the forecast for 2020.

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