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Outer, an outdoor-furniture company, announced a $10.5 million Series A investment round on Tuesday.
The company experienced 1,000% increase in sales over 2020 was the fastest-growing direct-to-consumer company for the Q2, according to web-traffic data from SimilarWeb.
Outer saw record sales amid the pandemic, as consumer shopping habits shifted more to e-commerce.
Outer cofounder and CEO Jiake Liu explained how the less than 2-year-old company boosted its quarter-over-quarter traffic growth by 659.1% in the second quarter and saw sales increase by 21 times in just five months.
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For many direct-to-consumer brands, the pandemic has helped business and web traffic soar.
In the case of the outdoor-furniture company Outer, the past few months been some of the most successful for the brand since its founding in May 2019.
The company announced a $10.5 million Series A investment round on Tuesday, adding to the $4.3 million raised in June. According to a news release, the announcement follows a 1,000% increase in sales over 2020 for the company.
Outer was previously named the fastest-growing direct-to-consumer (DTC) company for the second quarter, according to web-traffic data from SimilarWeb. A little less than two years old, Outer boosted its quarter-over-quarter traffic growth by 659.1% in the second quarter, reaching 52,773 monthly visitors on average.
In terms of revenue, Outer saw a 21-times increase from January to May. But according to Outer cofounder and CEO Jiake Liu, such sudden growth should not be viewed as a short-term metric for success.
“We’re all about sustainable growth,” Liu said in a previous interview regarding his company’s second-quarter results. According to a press release, Outer is expected to see sales beyond $12 million in 2021.
In a previous interview Liu explained how there were several factors that helped the brand achieve its monumental growth in Q2. In addition to its solid, desirable product and strong advertising and marketing strategy, Outer benefited from pandemic-driven consumer-behavior shifts. With more people homebound during warmer spring and summer months, Outer was well-positioned as a company focused on helping people enjoy their backyards in comfort.
How Outer scaled its advertising and marketing spend
Though Outer launched less than two years ago, the team did not decide to target growth until a few months in. For the first seven months of the company’s life, Liu said the team focused on perfecting the product, streamlining supply and fulfillment channels, and figuring out scalable acquisition channels.
By January of 2020, Outer started to invest more heavily on paid marketing. By April, the team homed in on its search strategy and published engaging video content to highlight key features of the company’s furniture. Savannah Sanchez, a social-media consultant who worked with Outer to grow its digital presence, shared on Twitter how she helped the brand scale its paid-advertising spend tenfold on Facebook and hundredfold on Google since February.
Outer was already fixed on a path toward digital growth by the spring. But the …read more
Source:: Business Insider