Looking forward, we see exceptional global growth opportunities for Spoonflower. We are confident in our strategy and are positioning ourselves to quickly scale by investing in the company infrastructure, leadership and product offerings.
DURHAM, N.C. (PRWEB) August 31, 2020
Spoonflower, the world’s largest custom fabric, wallpaper and home decor digital marketplace, today reported record worldwide sales growth for the first half of 2020, growing over 100% quarter over quarter (QoQ) and 162% year over year (YoY). All product lines, including fabric by the yard, wallpaper and home decor, saw record growth in Q2 2020 and YoY. First half demand trends have also sustained throughout July and August.
“2020 has been an incredible year of global growth for Spoonflower, driven by our new and loyal customers and made possible by the tireless work of the Spoonflower team,” said Michael Jones, Chief Executive Officer, Spoonflower. “We’re proud of what we’ve accomplished not only for Spoonflower, but also for the makers who depend on our products for their own businesses, as well as our marketplace community of nearly 30,000 independent artists. These artists are the heart and soul of Spoonflower; they have contributed the 1.8 million unique designs that make Spoonflower the only destination for customers in search of the ultimate in selection and personal expression.”
Spoonflower’s global presence continues to build, with double and triple-digit QoQ growth in many of its international markets. Further, 25% of all new customers to Spoonflower in Q2 2020 were from outside the US.
Spoonflower also experienced 275% QoQ growth on third-party marketplaces such as Etsy, Amazon, eBay, Wayfair and Houzz. Fabric sales, specifically, showed strong growth on marketplaces, driven by the massive reach of these e-commerce partners.
Q1 2020 - Q2 2020 Corporate Highlights:
- Spoonflower sales increased 101% QoQ; with key markets accelerating as follows:
◦ 107% QoQ growth in the United States
◦ 289% QoQ growth in Germany
◦ 120% QoQ growth in France
◦ 79% QoQ growth in the United Kingdom
◦ 59% QoQ growth in Canada
- Spoonflower experienced a 281% increase in new customers QoQ, with increased demand for fabric due to DIY projects, home makeovers and the resurgence of the maker community. The company acquired these customers profitably with a 48% decrease in customer acquisition cost.
- Spoonflower’s global third-party marketplace sales increased 275% QoQ, heavily influenced by the demand for fabric, which increased 671% QoQ. Additional highlights include:
◦ As the largest fabric, wallpaper and home decor company on Etsy, Spoonflower grew its Etsy sales 358% QoQ. Spoonflower is also a critical supplier to the Etsy maker community, providing thousands of sellers with fabric for their home decor and apparel businesses.
◦ To meet the growing need for masks, Spoonflower launched Etsy and Amazon Handmade shops featuring various Spoonflower mask products.
- Spoonflower’s marketplace selection is powered by independent artists sharing unique designs that are custom printed on fabric, wallpaper, home decor and masks. In the first half of 2020, over 130,000 new designs were added by Spoonflower’s artist community, further enhancing the selection available for customers shopping across these product categories.
- Increased demand across all product types including fabric, wallpaper and home textiles led to a record 135% QoQ increase in artist commissions. As a result, more commissions have been paid out in the first half of 2020 than in all of 2019.
- To meet increased demand and prepare for future growth, Spoonflower added production capacity and 25,000 square feet of factory space in Durham, NC in June.
- Since the beginning of 2020, Spoonflower has hired nearly 100 new employees and continues to actively recruit individuals globally for roles in Customer Service, Engineering, Human Resources, Marketing, Finance and Operations.
- As part of a comprehensive COVID-19 Response Program and in partnership with the Masks Now Coalition, Spoonflower unveiled the Buy A Mask, Give A Mask program in July.
Spoonflower’s recent growth comes on the heels of key executive-level hires: Michael Jones as CEO, Brad Schomber as CFO and Jessica Lesesky as CRO. The company continues to build its leadership team, with open roles for a Chief Technology Officer, as well as a Head of Diversity, Equity, Inclusion and Sustainability.
“Looking forward, we see exceptional global growth opportunities for Spoonflower. We are confident in our strategy and are positioning ourselves to quickly scale by investing in the company infrastructure, leadership and product offerings. We’re guided by our mission to provide our customers with timely, quality products that allow for self-expression, and we believe this strategy will advance that goal,” concluded Jones.
Spoonflower is a global marketplace connecting makers and consumers with artists worldwide. The company’s on-demand digital printing platform has revolutionized the textile industry in its development of an eco-friendly, sustainable and scalable manufacturing process. With Spoonflower, consumers can either design their own patterns on premium fabric, wallpaper and home goods or shop from the world’s largest marketplace of over 1.8 million designs from independent artists. Today, millions of individuals use Spoonflower to express their personal style and power their entrepreneurial spirit.
For more information on Spoonflower visit http://www.spoonflower.com.