{"id":555038,"date":"2024-08-13T17:03:57","date_gmt":"2024-08-13T15:03:57","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=555038"},"modified":"2024-08-14T07:42:06","modified_gmt":"2024-08-14T05:42:06","slug":"bash-showing-exceptional-growth","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/business\/555038-bash-showing-exceptional-growth.html","title":{"rendered":"Bash showing exceptional growth"},"content":{"rendered":"\n

Bash, owned by TFG, has achieved strong revenue and margin growth despite increased competition from Temu and Shein.<\/p>\n\n\n\n

Bash was officially launched on 20 February 2023 by e-commerce veterans Claude Hanan and Luke Jedeiken.<\/p>\n\n\n\n

Hanan and Jedeiken are well known as the founders of Superbalist, which was sold to Takealot. Following the acquisition, they served as Takealot executives.<\/p>\n\n\n\n

After some gardening leave, they joined the TFG to accelerate the retailer’s e-commerce growth.<\/p>\n\n\n\n

They have helped TFG become a top South African e-commerce player and one of the country’s fastest-growing online shopping channels.<\/p>\n\n\n\n

Bash is a “one-stop shop” for hundreds of brands in the TFG group and has become a favourite among South African shoppers.<\/p>\n\n\n\n

Sixteen months after officially launching the Bash apps in April 2023, it has surpassed 5 million unique app downloads.<\/p>\n\n\n\n

Bash’s monthly active app users (MAU) surpassed 1.5 million, a 300% year-on-year increase.<\/p>\n\n\n\n

Further good news for TFG is that the Bash app’s conversion rate \u2014 the percentage of users who purchase something – is more than double that of the web channels.<\/p>\n\n\n\n

Bash’s financial performance is equally impressive. It achieved 60% year-on-year revenue growth and an 80% margin increase.<\/p>\n\n\n\n

It achieved revenue and margin growth while its marketing and fulfilment costs decreased as a turnover percentage.<\/p>\n\n\n\n

Simply put, Bash spent less and could still improve its financial performance. This points to strong tailwinds in the business.<\/p>\n\n\n\n

What is particularly impressive is that Bash achieved these results during increased competition from Chinese retailers Temu and Shein.<\/p>\n\n\n\n

The entrance of Temu and Shein has had a tremendous impact on the local online shopping market. It offers prices so low that local retailers cannot match them.<\/p>\n\n\n\n

Despite the challenge from Temu and Shein, Bash has exceeded expectations in revenue and profit.<\/p>\n\n\n\n

TFG CEO Anthony Thunstr\u00f6m said Bash’s strong performance means its breakeven point has been brought forward.<\/p>\n\n\n\n

Bash’s success showed that TFG’s decision to headhunt Hanan and Jedeiken to build their new e-commerce platform was a winning strategy.<\/p>\n\n\n\n

The first phase of their work on TFG’s e-commerce platform and omni-channel plans has been a success.<\/p>\n\n\n\n

The next phase includes adding utility to the app through TFG Money functionality, including a soon-to-launch digital wallet.<\/p>\n\n\n\n

It has also added Jet to its increasing assortment of brands from which Bash users can choose.<\/p>\n\n\n\n

Bash versus Superbalist<\/h2>\n\n\n\n

According to SimilarWeb data, Bash has built a significant traffic and engagement lead over its main South African competitor, Superbalist.<\/p>\n\n\n\n

Bash attracted 6.2 million monthly visits in July 2024, compared to Superbalist’s 3.6 million. Bash also received more unique visitors than Superbalist.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The latest Google Trends also revealed that Bash has achieved strong growth after its launch, overtaking Superbalist in brand awareness.<\/p>\n\n\n\n

Google Trends provides access to a largely unfiltered sample of search requests made to Google. This data can be requested for a specific country.<\/p>\n\n\n\n

It provides a window into what people are searching for and the trend of whether a company’s search activity is increasing or decreasing.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The latest Reveal data also shows that TFG’s Bash is performing well against its main competitors.<\/p>\n\n\n\n

Reveal offers independent, differentiated investment research and an inside view of consumer spending.<\/p>\n\n\n\n

Its data, based on a sample of around 50,000 South African users, shows that Bash compares favourably in market share.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bash, owned by TFG, has achieved strong revenue and margin growth despite increased competition from Temu and Shein.<\/p>\n","protected":false},"author":23,"featured_media":498529,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[79994,69353,96628,69351],"class_list":["post-555038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bash","tag-claude-hanan","tag-luke-jedeiken","tag-tfg"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/555038"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=555038"}],"version-history":[{"count":8,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/555038\/revisions"}],"predecessor-version":[{"id":555225,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/555038\/revisions\/555225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/498529"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=555038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=555038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=555038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}