The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Rocco Strauss - Arete Research Services LLP - Analyst
: Like 2 questions for me, please. I mean, just to follow-up on the comments you made around marketing spend. Could you update us on Zalando
Media Services and how brands use this across wholesale and partner program with respect to what types of campaigns they're actually running
with you here?
And potentially what the split is between wholesale and partner program with regards to ZMS budgets?
And then, secondly, I mean, given that we're getting a significantly larger number of requests from like ESG-focused investors. Could you kind of
update us a bit more around like your do.MORE initiatives and connect the dots here with Zalando Circle and potentially also with connected retail
in terms of the -- like the quickly accelerating number of associated stores that you're seeing that could potentially offer pickups at some point
down the road?
Question: Clement Genelot - Bryan Garnier & Co Ltd, Research Division - Analyst
: 2 questions from my side, if I may. The first one is on connected retail. Why not launching connected retail in France, which is a country where we
see efficient stores currently closed?
My second question is regarding logistics. Do you expect bottleneck in logistics in Q4 with a third-party delivery partners potentially struggling to
enroll higher online volumes in November and December because of revenue lockdowns? Because here, my fear is that could lead to indeed higher
logistics costs.
Question: Jurgen Kolb - Kepler Cheuvreux, Research Division - Analyst
: First question, again, also on the return rate. I believe in the last call, you mentioned that the return rate has gotten back to a somewhat more
normalized level. .
And I was wondering if you've seen a further increase to the more or less 50% in October? Or if you have even seen due to the second kind of
lockdown that this return rate has again maybe stabilized on a lower level? That's the first question.
The second one, you mentioned that you obviously gained flexibility with the convertible bonds. And you mentioned geographic footprint extension
maybe or a category extension. I was wondering if you could maybe share some additional thoughts on especially the category side, you mentioned
Beauty, obviously.
But could you also picture that Zalando uses that opportunity to maybe go into even a different category that might be adjusting to fashion, but
maybe something else that you find right now possible or attractive given the environment?
Question: Clara Kamenicek - Stifel Europe, Research Division - Analyst
: I have 2. The first 1 is on Black Friday and Cyber Monday. So in the DACH region, that will fall into the lockdown period with restrictions on how
many people can be in stores. Do you think that there will be an even bigger spillover from brick-and-mortar than there already is?
And do you have any specific expectations for those days that you could share with us, maybe already more brand sign-ups or inventory increases?
And regarding Christmas, probably more people will order Christmas presents online. Are there any measures that you're taking to counteract a
potentially higher return rate in Q1 next year?
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