elumeo draws first positive conclusions on the introduction of jooliPay in India

Corporate News

elumeo draws first positive conclusions on the introduction of jooliPay in India

• 560% increase in order volume in December 2023 compared to the previous month
• Customer acquisition costs reduced by more than 90%
• More than 3,500 satisfied customers since launch at the end of August 2023
• Successful redesign of the onboarding process

Berlin, 29.01.2024 - elumeo SE (ISIN DE000A11Q059), the leading electronic retailer for gemstone jewelry in Europe, draws a first positive conclusion on the introduction of the payment function jooliPay for its AI-driven video shopping app jooli in the Indian market. Since the launch of the payment function in August 2023, the order volume has skyrocketed, reaching 2,122 orders delivered in December 2023, a growth of around 560% compared to the previous month. After the average sales price initially fell from 500 Indian rupees (INR) in September 2023 to INR 94 due to discounts and rebates, it has increased significantly again since December 2023 and reached INR 150 per order again in January 2024. The reasons for the trend reversal are increased customer confidence in the payment function and a growing number of second and third purchases.

At the same time, the efficiency of the advertising campaign, which mainly relies on social media, was further increased significantly. The costs per acquired customer fell by more than 90% between October and December 2023 to just over INR 350. In the second half of January, this figure improved further and was reduced to less than INR 100 in individual campaigns. Since the launch of jooliPay, jooli has already acquired more than 3,500 paying customers. The resulting increase in positive ratings on the platforms is supporting jooli's further organic growth.

jooli is making great progress in terms of scalability and sustainable growth thanks to the good development in the Indian market in terms of order volume and customer acquisition costs. Aykut Cevik, Co-Founder and Managing Director of jooli.com, also emphasizes the positive effect of optimizing the onboarding process on the development of jooli: "Guiding new users when they use the application for the first time is crucial for us. Since the redesign, jooli has been actively asking users about their interests and other data, which enables us to display individually tailored customer offers even faster." As a pleasing consequence of this measure, the rate of 1-day repeat users has risen to over 10%. By this, jooli means the number of users who visit the app again immediately after the first day of use.

In the coming months, jooli development will focus on managing the sharp increase in order flow. This includes the implementation of automation and integration in the back office as well as revenue-boosting adjustments to the app, such as an optimized user experience (UX) and the integration of vouchers and gamification aspects.

About elumeo SE:

The Berlin-based elumeo Group is the leading European company in the electronic direct sales of high-quality gemstone jewelry. Through a variety of electronic sales channels (TV, Internet, Smart TV and smartphone app), the listed company offers its customers colored gemstone jewelry in particular at affordable prices. The elumeo Group operates home shopping TV channels in Germany, Austria, Switzerland and Italy as well as web stores in Germany, Austria, Switzerland, the UK, Italy, France, the Netherlands, Spain and Belgium. With its wholly owned subsidiary jooli.com GmbH, the elumeo Group operates the AI-driven video shopping app jooli.

About jooli:

jooli is the fastest growing video shopping app in Germany and India: user-friendly, intelligent and entertaining. The app inspires with products that are presented in short, entertaining videos. Users navigate through a broad product portfolio of various brands with a swipe and receive personalized shopping and gift ideas. Product partners are given an intuitive content platform to tap into new target groups with their specially produced product videos. The jooli interface also provides them with extensive data analyses, from individual video performances to click rate analyses. The app analyses user behaviour and enables brands to optimize and individualize their product offering. The jooli app is available for iOS and Android.

Further information at https://www.jooli.com/

Contact us

elumeo SE
Investor Relations
Erkelenzdamm 59/61
10999 Berlin
Phone: +49 30 69 59 79-231
Fax: +49 30 69 59 79-650
E-mail: ir@elumeo.com

www.elumeo.com