Advertisement

Kogan Launches Discount Travel Platform

Reading Time: 2 mins
By Published On: April 24, 20241 Comment

Kogan has re-entered the travel game with the launch of Kogan Travel, a travel deals platform exclusively for its loyalty programme members.

In its Q3 results announcement, the online retail giant has unveiled its new offering, Kogan Travel.

Exclusively available to Kogan FIRST members, the platform is a reimagining of a previous collaboration with Luxury Escapes. The new independent travel platform is poised to offer discounts of up to 20 percent on domestic and international hotels, holiday packages and activities, compared to other major online travel aggregators. 

“I’m excited to announce today that we continue to grow the benefits through the program, launching Kogan Travel hotel deals,” said Founder and CEO  Ruslan Kogan. “As of today, Kogan Travel now offers the best value domestic and international hotel stays and packages with exclusive pricing for Kogan FIRST Subscribers. If you have some travel coming up, we encourage you to compare our prices and start saving.

“Our team is committed to delivering remarkable value to millions of customers and help them combat the cost-of-living, so they can live their best lives.” 

Kogan FIRST continues to drive value for customers as the company invests in and grows its offerings. In Q3, the loyalty program grew 16 percent YoY to over 472,000 Subscribers at 31 March 2024. 

“Kogan FIRST has become the north star for the business, creating immense value for our loyal customers. We deliver remarkable value to our loyal members, and in so doing ensure that members come to Kogan first,” said Kogan. 

Kogan FIRST membership cost was increased from $99 to $129 on 8 April 2024.

Unaudited Q3 results reveal gross sales of $178.3 million reflect a decline of 6.2 percent YoY. This is attributed to a significant reduction in inventories as part of a plan to reposition the company into a more capital-light business.

While revenue declined 2.4 percent to $105.9 million, gross profit increased 13.8 percent to $39 million. The company notes this is underpinned by a larger contribution from platform-based sales and improved profitability of in-warehouse inventory sales after the prior sell-through of excess inventory.

Group Active Customers continues to grow and were 2,660,000 as at 31 March 2024, consisting of 1,950,000 for Kogan.com and 710,000 for Mighty Ape.

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

Share this story!

One Comment

  1. Teknik Informatika April 27, 2024 at 4:13 PM - Reply

    What features does Kogan’s new discount travel platform offer, and how does it differentiate itself from existing travel services? Regard Telkom University

Leave A Comment

Advertisement
Advertisement
Advertisement
Advertisement