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MusicMagpie
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=== Company description: Leading online re-commerce === musicMagpie (MMAG) is a leading online consumer re-commerce company with a current focus on buying and selling across three categories: consumer technology, media (ie disc media) and books. Its growth prospects are mainly driven by increasing consumer acceptance of circular economy models, a result of increasing environmental and sustainability concerns. The main geographic presence is the UK (79% of revenue in FY21), one of the more developed consumer re-commerce markets. It is the world’s largest seller on Amazon and eBay by reference to volume of sales transacted on third-party platforms. It also has a less developed business in the United States. Over time, the product category focus has evolved and MMAG’s technology will enable this to continue as consumer engagement with re-commerce increases. Historically, MMAG’s relationship has been solely with consumers, and typically intermittent in nature. Recent initiatives indicate this is changing: the new offer of rentals of smartphones and other consumer technology aims to build recurring and more profitable revenue streams; new and enhanced digital marketing capabilities seek to stimulate new cross-selling opportunities; and the first move into corporate recycling opens up a new significant pool of potential product supply and revenue. Management guides to long-term double-digit revenue growth for Technology, countered by continued high-single-digit declines for Media, suggesting the current business mix is capable of mid-single-digit revenue growth, which may accelerate as Technology’s importance to the group increases.
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