Buy4Now sees increase in customers

Buy4Now, the Irish online store, saw a big increase in the number of users over the past year.

It more than doubled its registered users in the past year, from 30,800 to 75,000.

Turnover increased 33% to €14.75m and it expects this to increase to €18m in 2003.

The company made a trading profit of €75,000 but with development costs of €150,000 its net loss was €75,000.

Last year the company’s net loss was over €500,000.

Buy4Now is a portal for such companies as Superquinn, Arnotts, Easons and Atlantic Homecare.

Superquinn’s online sales contributed €12.5m, up 40% on the year, of the turnover of the portal.

The three major shareholders in Buy4Now are Superquinn, 12%, Heiton Holdings, 8% and eircom 22%.

Around €100,000 of its development costs this year was spent on its software which it hopes to license internationally to online sales companies.